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

ClearSign Technologies Co. (NASDAQ:CLIR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.97 and traded as low as $0.79. ClearSign Technologies shares last traded at $0.80, with a volume of 103,479 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on ClearSign Technologies in a research report on Saturday. They set a “sell” rating on the stock.

ClearSign Technologies Trading Down 6.8 %

The stock has a market cap of $40.18 million, a price-to-earnings ratio of -7.27 and a beta of 1.13. The stock has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $0.97.

Hedge Funds Weigh In On ClearSign Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in ClearSign Technologies by 23.8% in the 4th quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock worth $109,000 after acquiring an additional 14,521 shares during the last quarter. Geode Capital Management LLC raised its stake in ClearSign Technologies by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 536,995 shares of the technology company’s stock worth $773,000 after acquiring an additional 15,766 shares during the last quarter. Americana Partners LLC purchased a new position in ClearSign Technologies in the 3rd quarter worth $25,000. Citadel Advisors LLC purchased a new position in ClearSign Technologies in the 4th quarter worth $49,000. Finally, Raymond James Financial Inc. purchased a new position in ClearSign Technologies in the 4th quarter worth $75,000. Hedge funds and other institutional investors own 24.03% of the company’s stock.

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.