- H.C. Wainwright analyst Amit Dayal reiterated a Buy with a price target of $6 on ClearSign Technologies Corp CLIR post Q122 results update.
- Dayal expects 2H22 revenue to reflect the deployment against the company's recent order wins. Therefore he left his estimates unchanged for 2022.
- California remains an important market for ClearSign as the regulatory environment remains highly supportive of the company's offerings.
- ClearSign won a $250K government grant.
- China remains an important market, and with the relaxation of COVID-19 restrictions, the company is now seeking to get its burners certified and piloted before year-end to secure orders for the 2023 heating season.
- With ease in overhang from financing expectations, any movement on burner deployments should support the stock.
- ClearSign expects revenues of $2.1 million in 2022, growing at a 10-year CAGR of 62% to $267.9 million in 2032.
- It expects operating expenses to increase to $12.2 million in 2032, at a 10-year CAGR of 7.0%.
- Price Action: CLIR shares traded higher by 4.91% at $1.30 on the last check Friday.
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