Clarus (NASDAQ:CLAR) Trading Up 0.6% – Here’s Why

Clarus Corporation (NASDAQ:CLAR)’s share price shot up 0.6% during mid-day trading on Thursday . The company traded as high as $3.14 and last traded at $3.11. 122,129 shares were traded during trading, a decline of 59% from the average session volume of 296,882 shares. The stock had previously closed at $3.09.

Analysts Set New Price Targets

CLAR has been the subject of a number of recent research reports. Roth Mkm set a $2.90 target price on shares of Clarus in a research report on Wednesday, May 13th. Zacks Research cut shares of Clarus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Lake Street Capital reduced their target price on shares of Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a research report on Friday, March 6th. Finally, Stifel Nicolaus set a $5.00 target price on shares of Clarus in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Clarus presently has an average rating of “Hold” and a consensus price target of $3.63.

Clarus Price Performance

The stock’s fifty day moving average is $2.79 and its 200-day moving average is $3.19. The stock has a market cap of $118.01 million, a PE ratio of -2.65 and a beta of 1.02.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Clarus had a negative net margin of 17.70% and a negative return on equity of 0.11%. The firm had revenue of $65.41 million during the quarter, compared to analyst estimates of $68.67 million.

Clarus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.3%. Clarus’s dividend payout ratio is currently -8.62%.

Institutional Investors Weigh In On Clarus

A number of hedge funds have recently modified their holdings of CLAR. Goldman Sachs Group Inc. grew its holdings in shares of Clarus by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company’s stock valued at $620,000 after purchasing an additional 10,873 shares during the period. Jane Street Group LLC purchased a new stake in shares of Clarus in the first quarter valued at about $107,000. Marshall Wace LLP purchased a new stake in shares of Clarus in the second quarter valued at about $100,000. Gabelli Funds LLC grew its holdings in shares of Clarus by 16.7% in the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock valued at $243,000 after purchasing an additional 10,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Clarus by 344.8% in the third quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company’s stock valued at $233,000 after buying an additional 51,548 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.