Short Interest in ClearOne, Inc. (NASDAQ:CLRO) Grows By 232.4%
by Scott Moore · The Cerbat GemClearOne, Inc. (NASDAQ:CLRO – Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 4,421 shares, a growth of 232.4% from the April 15th total of 1,330 shares. Based on an average trading volume of 6,169 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are short sold.
Insider Transactions at ClearOne
In related news, major shareholder Finance Ltd. First bought 437,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $4.00 per share, with a total value of $1,750,000.00. Following the completion of the transaction, the insider owned 1,641,162 shares of the company’s stock, valued at $6,564,648. The trade was a 36.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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 raised its position in shares of ClearOne, Inc. (NASDAQ:CLRO – Free Report) by 53.3% in the fourth quarter, according to its most recent filing with the SEC. 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 approximately 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. Institutional investors own 9.58% of the company’s stock.
ClearOne Trading Up 0.7%
Shares of NASDAQ CLRO traded up $0.02 during midday trading on Thursday, reaching $3.32. The company’s stock had a trading volume of 747 shares, compared to its average volume of 8,641. ClearOne has a fifty-two week low of $2.71 and a fifty-two week high of $15.42. The stock has a market capitalization of $8.91 million, a price-to-earnings ratio of -0.25 and a beta of 0.16. The stock has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $4.93.
ClearOne (NASDAQ:CLRO – Get Free Report) last released its earnings results on Tuesday, March 31st. The communications equipment provider reported ($2.38) earnings per share for the quarter. The company had revenue of ($4.23) million for the quarter.
Analyst Ratings Changes
Separately, Weiss Ratings cut 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.com, the company presently has a consensus rating of “Sell”.
Read Our Latest Research Report on CLRO
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.