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

ClearSign Technologies Co. (NASDAQ:CLIR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.98 and traded as low as $0.75. ClearSign Technologies shares last traded at $0.78, with a volume of 50,591 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of ClearSign Technologies in a report on Tuesday. They set a “sell” rating on the stock.

ClearSign Technologies Stock Down 3.1 %

The firm’s 50-day moving average price is $1.03 and its 200 day moving average price is $0.98. The company has a market capitalization of $39.19 million, a P/E ratio of -7.09 and a beta of 1.04.

Institutional Investors Weigh In On ClearSign Technologies

A number of institutional investors have recently added to or reduced their stakes in CLIR. Citadel Advisors LLC bought a new stake in ClearSign Technologies in the 4th quarter worth about $49,000. Raymond James Financial Inc. purchased a new position in ClearSign Technologies in the fourth quarter valued at about $75,000. Renaissance Technologies LLC purchased a new position in ClearSign Technologies in the fourth quarter valued at about $84,000. Northern Trust Corp boosted its stake in ClearSign Technologies by 23.8% in the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock valued at $109,000 after acquiring an additional 14,521 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in ClearSign Technologies by 35.5% in the third 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 during the last quarter. 24.03% of the stock is owned by 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.