Clarus (NASDAQ:CLAR) Trading Up 0.6% – Time to Buy?

Clarus Corporation (NASDAQ:CLAR)’s stock price shot up 0.6% on Thursday . The stock traded as high as $3.14 and last traded at $3.11. 122,129 shares traded hands during trading, a decline of 59% from the average session volume of 296,882 shares. The stock had previously closed at $3.09.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLAR. Wall Street Zen upgraded shares of Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Stifel Nicolaus set a $5.00 price objective on shares of Clarus in a research report on Thursday, April 16th. Roth Mkm set a $2.90 price objective on shares of Clarus in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Clarus from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Lake Street Capital reduced their price objective on shares of Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.63.

Clarus Trading Up 0.6%

The business’s fifty day moving average price is $2.78 and its 200 day moving average price is $3.19. The firm has a market capitalization of $119.55 million, a price-to-earnings ratio of -2.68 and a beta of 1.02.

Clarus (NASDAQ:CLAR) last announced its earnings results on Thursday, March 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $65.41 million for the quarter, compared to analysts’ expectations of $68.67 million. Clarus had a negative net margin of 17.70% and a negative return on equity of 0.11%.

Clarus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 18th. Clarus’s payout ratio is presently -8.62%.

Hedge Funds Weigh In On Clarus

Institutional investors have recently bought and sold shares of the company. Parthenon LLC increased its stake in Clarus by 39.6% in the 4th quarter. Parthenon LLC now owns 1,005,364 shares of the company’s stock valued at $3,368,000 after buying an additional 285,124 shares during the period. JPMorgan Chase & Co. increased its stake in Clarus by 344.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company’s stock valued at $233,000 after buying an additional 51,548 shares during the period. Gamco Investors INC. ET AL increased its stake in Clarus by 3.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 315,000 shares of the company’s stock valued at $1,102,000 after buying an additional 11,500 shares during the period. GSA Capital Partners LLP increased its stake in Clarus by 195.7% in the 3rd quarter. GSA Capital Partners LLP now owns 84,250 shares of the company’s stock valued at $295,000 after buying an additional 55,754 shares during the period. Finally, Peapod Lane Capital LLC increased its stake in Clarus by 9.3% in the 3rd quarter. Peapod Lane Capital LLC now owns 530,183 shares of the company’s stock valued at $1,855,000 after buying an additional 44,963 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.