ClearSign Technologies Co. (NASDAQ:CLIR) Sees Large Drop in Short Interest

ClearSign Technologies Co. (NASDAQ:CLIR) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 248,100 shares, a drop of 7.5% from the October 31st total of 268,200 shares. Based on an average daily trading volume, of 105,600 shares, the days-to-cover ratio is presently 2.3 days.

ClearSign Technologies Stock Performance

Shares of NASDAQ:CLIR traded up $0.06 during midday trading on Wednesday, hitting $1.21. The company’s stock had a trading volume of 34,440 shares, compared to its average volume of 80,076. The stock’s 50 day simple moving average is $0.91 and its 200 day simple moving average is $0.83. ClearSign Technologies has a fifty-two week low of $0.62 and a fifty-two week high of $1.42. The stock has a market capitalization of $60.53 million, a price-to-earnings ratio of -10.45 and a beta of 1.14.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ClearSign Technologies stock. Geode Capital Management LLC raised its stake in ClearSign Technologies Co. (NASDAQ:CLIR) by 35.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,229 shares of the technology company’s stock after purchasing an additional 136,639 shares during the period. Geode Capital Management LLC owned approximately 1.04% of ClearSign Technologies worth $443,000 as of its most recent SEC filing. 24.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of ClearSign Technologies in a research report on Thursday, August 22nd. StockNews.com initiated coverage on shares of ClearSign Technologies in a research report on Wednesday. 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.