StockNews.com initiated coverage on shares of ClearOne (NASDAQ:CLRO – Free Report) in a report published on Friday morning. The firm issued a hold rating on the communications equipment provider’s stock.
ClearOne Stock Performance
NASDAQ CLRO opened at $0.94 on Friday. The company has a market cap of $22.49 million, a PE ratio of -46.91 and a beta of 0.91. The firm’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.01. ClearOne has a 52-week low of $0.64 and a 52-week high of $2.65.
ClearOne (NASDAQ:CLRO – Get Free Report) last announced its earnings results on Tuesday, April 2nd. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $4.15 million for the quarter. ClearOne had a negative net margin of 2.99% and a negative return on equity of 10.61%.
ClearOne Cuts Dividend
Institutional Inflows and Outflows
A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT raised its position in ClearOne, Inc. (NASDAQ:CLRO – Free Report) by 5,150.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,000 shares of the communications equipment provider’s stock after acquiring an additional 206,000 shares during the period. Albion Financial Group UT owned approximately 0.88% of ClearOne worth $384,000 as of its most recent filing with the Securities & Exchange Commission. 9.58% of the stock is currently owned by hedge funds and other institutional investors.
ClearOne Company Profile
ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally. The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.
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