ClearSign Technologies Co. (NASDAQ:CLIR) Short Interest Down 17.7% in October

ClearSign Technologies Co. (NASDAQ:CLIR) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 277,100 shares, a decline of 17.7% from the September 30th total of 336,500 shares. Based on an average trading volume of 45,900 shares, the days-to-cover ratio is presently 6.0 days.

Hedge Funds Weigh In On ClearSign Technologies

An institutional investor recently bought a new position in ClearSign Technologies stock. Americana Partners LLC purchased a new stake in shares of ClearSign Technologies Co. (NASDAQ:CLIR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the technology company’s stock, valued at approximately $25,000. Americana Partners LLC owned 0.06% of ClearSign Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 24.03% of the company’s stock.

ClearSign Technologies Price Performance

Shares of CLIR stock traded down $0.00 on Wednesday, hitting $0.85. The stock had a trading volume of 176,226 shares, compared to its average volume of 66,998. The business has a 50 day moving average of $0.80 and a 200 day moving average of $0.80. The stock has a market cap of $42.47 million, a price-to-earnings ratio of -7.08 and a beta of 1.06. ClearSign Technologies has a 12-month low of $0.62 and a 12-month high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Wednesday, August 21st. The technology company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.33 million. ClearSign Technologies had a negative net margin of 210.18% and a negative return on equity of 66.91%. During the same quarter in the prior year, the company posted ($0.04) earnings per share. As a group, research analysts expect that ClearSign Technologies will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CLIR. StockNews.com began coverage on shares of ClearSign Technologies in a research note on Friday, October 25th. They issued a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of ClearSign Technologies in a research note on Thursday, August 22nd.

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.