Clarus Corporation (NASDAQ:CLAR) Sees Large Decline in Short Interest

Clarus Corporation (NASDAQ:CLAR) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 756,098 shares, a decrease of 46.0% from the June 15th total of 1,401,307 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 672,339 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Clarus

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Abel Hall LLC bought a new position in Clarus in the fourth quarter valued at approximately $39,000. Verition Fund Management LLC bought a new stake in Clarus during the third quarter worth $50,000. Quadrature Capital Ltd bought a new stake in Clarus during the fourth quarter worth $56,000. Virtu Financial LLC acquired a new stake in shares of Clarus in the 4th quarter valued at $62,000. Finally, Millennium Management LLC acquired a new stake in shares of Clarus in the 4th quarter valued at $70,000. Institutional investors own 90.30% of the company’s stock.

Clarus Trading Up 2.8%

NASDAQ CLAR traded up $0.10 during trading on Thursday, reaching $3.44. The company’s stock had a trading volume of 42,822 shares, compared to its average volume of 245,646. The firm has a market capitalization of $132.04 million, a price-to-earnings ratio of -2.94 and a beta of 1.07. Clarus has a 12 month low of $2.53 and a 12 month high of $4.03. The firm has a 50 day moving average price of $3.04 and a 200 day moving average price of $3.11.

Clarus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.10 annualized dividend and a yield of 2.9%. Clarus’s dividend payout ratio is currently -8.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Clarus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Roth Capital set a $2.90 target price on shares of Clarus in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a report on Wednesday, June 3rd. Stifel Nicolaus set a $5.00 price objective on shares of Clarus in a research report on Thursday, April 16th. Finally, Wall Street Zen raised Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Clarus currently has a consensus rating of “Hold” and an average price target of $3.63.

Clarus Company Profile

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.