ClearOne (NASDAQ:CLRO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of ClearOne, Inc. (NASDAQ:CLRO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.31 and traded as high as $6.79. ClearOne shares last traded at $6.5750, with a volume of 4,109 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of ClearOne in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, ClearOne currently has a consensus rating of “Sell”.

ClearOne Price Performance

The stock’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.32. The stock has a market cap of $14.39 million, a P/E ratio of -0.92 and a beta of -0.05.

ClearOne (NASDAQ:CLRO) last announced its quarterly earnings results on Friday, November 14th. The communications equipment provider reported ($0.50) earnings per share for the quarter. ClearOne had a negative return on equity of 73.47% and a negative net margin of 120.46%.

Insider Transactions at ClearOne

In other news, major shareholder Edward D. Bagley sold 700,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $3.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the insider owned 140,668 shares in the company, valued at approximately $422,004. This represents a 83.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC raised its position in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,064 shares of the communications equipment provider’s stock after purchasing an additional 10,452 shares during the quarter. DRW Securities LLC owned about 1.34% of ClearOne worth $153,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 9.58% of the company’s stock.

About ClearOne

ClearOne (NASDAQ:CLRO) is a global provider of audio and visual communication solutions designed for conferencing, collaboration and streaming applications. Headquartered in Salt Lake City, Utah, the company develops hardware and software systems that integrate audio capture, video processing and digital signage. Its product portfolio spans professional-grade conference speakers and microphones, beamforming ceiling arrays, USB and networked video cameras, and cloud-based collaboration platforms.

At the core of ClearOne’s offering are its conferencing devices, which support both on-premises and cloud deployments.