ClearOne (NASDAQ:CLRO) Releases Quarterly Earnings Results

ClearOne (NASDAQ:CLRO) issued its quarterly earnings data on Tuesday. The communications equipment provider reported ($2.38) earnings per share (EPS) for the quarter, FiscalAI reports. ClearOne had a negative net margin of 120.46% and a negative return on equity of 73.47%. The business had revenue of ($4.23) million during the quarter.

ClearOne Trading Down 1.4%

CLRO stock opened at $3.56 on Wednesday. The stock has a 50-day moving average price of $5.35 and a two-hundred day moving average price of $5.38. ClearOne has a 1 year low of $3.37 and a 1 year high of $15.42. The stock has a market cap of $7.97 million, a PE ratio of -0.51 and a beta of -0.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ClearOne in a research note on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Insider Activity at ClearOne

In other news, major shareholder Finance Ltd. First purchased 437,500 shares of the business’s 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 completion of the acquisition, the insider directly owned 1,641,162 shares in the company, valued at approximately $6,564,648. This trade represents a 36.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. DRW Securities LLC raised its position in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,064 shares of the communications equipment provider’s stock after acquiring an additional 10,452 shares during the period. DRW Securities LLC owned about 1.34% of ClearOne worth $153,000 as of its most recent filing with the SEC. 9.58% of the stock is owned by hedge funds and other institutional investors.

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.