ClearOne Incoprorated (NASDAQ:CLRO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 11th.
According to Zacks, “ClearOne, Inc. operates as a provider of audio visual communications. The Company design, develop and sell conferencing, collaboration, streaming and digital signage solutions for audio, video and data multimedia communication. Its product include video conferencing, professional audio, unified communication, digital signage, microphones, enterprise streaming, residential streaming and media carts. ClearOne, Inc., formerly known as ClearOne Communications, Inc., is based in Salt Lake City, Utah. “
Other equities research analysts also recently issued research reports about the company. B. Riley reissued a “buy” rating and issued a $12.50 price target on shares of ClearOne Incoprorated in a report on Tuesday, May 16th. TheStreet downgraded ClearOne Incoprorated from a “b” rating to a “c+” rating in a report on Wednesday, March 15th.
ClearOne Incoprorated (NASDAQ CLRO) opened at 9.65 on Tuesday. ClearOne Incoprorated has a 1-year low of $8.96 and a 1-year high of $12.60. The firm has a 50 day moving average of $9.65 and a 200-day moving average of $10.46. The company has a market capitalization of $83.99 million, a price-to-earnings ratio of 141.91 and a beta of 1.26.
ClearOne Incoprorated (NASDAQ:CLRO) last issued its quarterly earnings results on Tuesday, May 9th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.12. The business had revenue of $11.68 million during the quarter, compared to analyst estimates of $12.97 million. ClearOne Incoprorated had a negative return on equity of 2.45% and a negative net margin of 4.01%. On average, equities research analysts anticipate that ClearOne Incoprorated will post $0.40 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in ClearOne Incoprorated by 0.8% in the first quarter. Wellington Management Group LLP now owns 900,276 shares of the communications equipment provider’s stock worth $8,913,000 after buying an additional 7,320 shares during the period. FMR LLC increased its stake in ClearOne Incoprorated by 5.6% in the fourth quarter. FMR LLC now owns 266,000 shares of the communications equipment provider’s stock worth $3,032,000 after buying an additional 14,000 shares during the period. Renaissance Technologies LLC increased its stake in ClearOne Incoprorated by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 167,800 shares of the communications equipment provider’s stock worth $1,913,000 after buying an additional 11,300 shares during the period. Finally, Hancock Holding Co. purchased a new stake in ClearOne Incoprorated during the first quarter worth approximately $166,000. 19.65% of the stock is owned by hedge funds and other institutional investors.
About ClearOne Incoprorated
ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.
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