ClearOne (NASDAQ:CLRO) Issues Earnings Results

by · The Cerbat Gem

ClearOne (NASDAQ:CLRO – Get Free Report) posted its quarterly earnings data on Friday. The communications equipment provider reported ($0.18) EPS for the quarter, FiscalAI reports.

ClearOne Stock Down 8.9%

NASDAQ:CLRO traded down $0.30 during trading hours on Friday, reaching $3.04. 3,747 shares of the stock were exchanged, compared to its average volume of 6,744. The firm has a 50 day simple moving average of $3.61 and a 200-day simple moving average of $4.90. ClearOne has a 52 week low of $2.71 and a 52 week high of $15.42. The stock has a market capitalization of $8.13 million, a P/E ratio of -0.22 and a beta of 0.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Get Our Latest Analysis on ClearOne

Insider Activity

In other ClearOne news, major shareholder Finance Ltd. First purchased 437,500 shares of ClearOne stock in a transaction dated Monday, March 2nd. The shares were bought at an average cost of $4.00 per share, for a total transaction of $1,750,000.00. Following the transaction, the insider owned 1,641,162 shares in the company, valued at $6,564,648. This represents a 36.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC boosted its position in ClearOne, Inc. (NASDAQ:CLRO – Free Report) by 53.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. 9.58% of the stock is currently owned by hedge funds and other institutional investors.

About ClearOne

(Get Free Report)

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.

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