Short Interest in ClearSign Technologies Co. (NASDAQ:CLIR) Grows By 25.3%

ClearSign Technologies Co. (NASDAQ:CLIR) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 318,400 shares, a growth of 25.3% from the May 31st total of 254,200 shares. Based on an average daily volume of 64,300 shares, the days-to-cover ratio is currently 5.0 days.

ClearSign Technologies Price Performance

CLIR stock traded up $0.05 during midday trading on Monday, reaching $0.88. The company had a trading volume of 105,808 shares, compared to its average volume of 75,248. ClearSign Technologies has a 1 year low of $0.62 and a 1 year high of $1.72. The company has a market capitalization of $40.41 million, a P/E ratio of -7.33 and a beta of 1.05. The firm has a 50-day moving average price of $0.79 and a 200-day moving average price of $0.96.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $1.02 million. ClearSign Technologies had a negative net margin of 186.63% and a negative return on equity of 85.65%. On average, equities analysts predict that ClearSign Technologies will post -0.12 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. purchased 3,350,000 shares of ClearSign Technologies stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $3,048,500.00. Following the completion of the acquisition, the insider now owns 9,539,857 shares of the company’s stock, valued at approximately $8,681,269.87. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On ClearSign Technologies

An institutional investor recently bought a new position in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of ClearSign Technologies Co. (NASDAQ:CLIR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned 0.10% of ClearSign Technologies at the end of the most recent quarter. 24.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of ClearSign Technologies in a research note on Tuesday, May 28th. StockNews.com assumed coverage on shares of ClearSign Technologies in a research note on Thursday. They issued a “sell” rating for the company.

ClearSign Technologies Company Profile

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.