ClearOne, Inc. (NASDAQ:CLRO) Sees Large Drop in Short Interest

ClearOne, Inc. (NASDAQ:CLRO) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 24,903 shares, a decrease of 53.0% from the August 15th total of 52,965 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 49,168 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

Several research analysts have issued reports on CLRO shares. Wall Street Zen raised ClearOne to a “sell” rating in a research report on Saturday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ClearOne in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in ClearOne stock. DRW Securities LLC boosted its position in shares of ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors.

ClearOne Stock Performance

Shares of ClearOne stock opened at $4.99 on Monday. ClearOne has a one year low of $2.71 and a one year high of $16.50. The stock’s fifty day moving average is $6.17 and its 200 day moving average is $4.53. The stock has a market cap of $13.37 million, a P/E ratio of -4.34 and a beta of 0.16.

ClearOne (NASDAQ:CLRO) last released its quarterly earnings results on Friday, August 14th. The communications equipment provider reported ($0.34) earnings per share (EPS) for the quarter.

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.