Clarus (NASDAQ:CLAR) Shares Down 1.1% – Here’s Why

Clarus Corporation (NASDAQ:CLAR)’s share price was down 1.1% during trading on Monday . The company traded as low as $2.64 and last traded at $2.64. Approximately 208,369 shares changed hands during trading, a decline of 23% from the average daily volume of 271,060 shares. The stock had previously closed at $2.67.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CLAR shares. Lake Street Capital dropped their price objective on Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Clarus in a research note on Monday, December 29th. Stifel Nicolaus dropped their target price on shares of Clarus from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 6th. Wall Street Zen downgraded shares of Clarus from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Roth Mkm decreased their price target on shares of Clarus from $3.50 to $3.25 and set a “neutral” rating on the stock in a report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.08.

Clarus Trading Down 1.1%

The company’s 50-day simple moving average is $3.22 and its 200-day simple moving average is $3.39. The stock has a market capitalization of $101.38 million, a price-to-earnings ratio of -2.18 and a beta of 1.11.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Clarus had a negative net margin of 18.59% and a negative return on equity of 0.82%. The company had revenue of $65.41 million for the quarter, compared to analyst estimates of $68.67 million. On average, equities research analysts expect that Clarus Corporation will post -0.06 earnings per share for the current fiscal year.

Clarus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Monday, March 16th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.10 annualized dividend and a yield of 3.8%. Clarus’s payout ratio is presently -8.26%.

Institutional Investors Weigh In On Clarus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Clarus by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 702,446 shares of the company’s stock worth $2,354,000 after acquiring an additional 3,611 shares during the period. PNC Financial Services Group Inc. increased its position in Clarus by 19.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 23,415 shares of the company’s stock valued at $81,000 after purchasing an additional 3,845 shares during the period. Barclays PLC increased its position in Clarus by 11.1% during the 4th quarter. Barclays PLC now owns 46,299 shares of the company’s stock valued at $155,000 after purchasing an additional 4,644 shares during the period. Lepercq De Neuflize Asset Management LLC raised its holdings in Clarus by 45.0% during the 2nd quarter. Lepercq De Neuflize Asset Management LLC now owns 32,200 shares of the company’s stock worth $112,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in Clarus by 16.7% during the 2nd quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock worth $243,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

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.