ClearSign Technologies (NASDAQ:CLIR) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

ClearSign Technologies Co. (NASDAQ:CLIR) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.97 and traded as low as $0.92. ClearSign Technologies shares last traded at $0.97, with a volume of 90,486 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of ClearSign Technologies in a report on Friday. They issued a “sell” rating on the stock.

ClearSign Technologies Price Performance

The company has a 50 day moving average of $1.20 and a two-hundred day moving average of $0.97. The company has a market capitalization of $48.69 million, a PE ratio of -8.81 and a beta of 1.13.

Institutional Investors Weigh In On ClearSign Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Americana Partners LLC purchased a new stake in ClearSign Technologies in the third quarter worth $25,000. Raymond James Financial Inc. acquired a new stake in shares of ClearSign Technologies during the 4th quarter valued at about $75,000. Renaissance Technologies LLC acquired a new position in shares of ClearSign Technologies during the 4th quarter worth about $84,000. Finally, Geode Capital Management LLC grew its stake in ClearSign Technologies by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 521,229 shares of the technology company’s stock valued at $443,000 after acquiring an additional 136,639 shares in the last quarter. 24.03% of the stock is owned by hedge funds and other institutional investors.

About ClearSign Technologies

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.