ClearOne (NASDAQ:CLRO) Posts Quarterly Earnings Results

ClearOne (NASDAQ:CLRO) announced its quarterly earnings data on Friday. The communications equipment provider reported ($0.18) earnings per share for the quarter, FiscalAI reports.

ClearOne Stock Down 8.9%

Shares of CLRO stock opened at $3.04 on Friday. The company has a 50 day moving average price of $3.61 and a 200-day moving average price of $4.90. ClearOne has a 52 week low of $2.71 and a 52 week high of $15.42. The firm has a market capitalization of $8.13 million, a PE ratio of -0.22 and a beta of 0.16.

Insiders Place Their Bets

In other news, major shareholder Finance Ltd. First bought 437,500 shares of the stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $4.00 per share, with a total value of $1,750,000.00. Following the completion of the acquisition, the insider owned 1,641,162 shares in the company, valued at $6,564,648. The trade was a 36.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. DRW Securities LLC boosted its holdings in shares of ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,064 shares of the communications equipment provider’s stock after buying an additional 10,452 shares during the quarter. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings cut ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

ClearOne Company Profile

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.