Clarus Corporation (NASDAQ:CLAR) Sees Significant Decrease in Short Interest

Clarus Corporation (NASDAQ:CLAR) was the recipient of a significant decrease in short interest in 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. Based on an average daily volume of 672,339 shares, the short-interest ratio is presently 1.1 days. Currently, 2.6% of the company’s stock are sold short.

Clarus Price Performance

Shares of NASDAQ:CLAR traded down $0.01 during midday trading on Friday, hitting $3.40. 23,205 shares of the company’s stock were exchanged, compared to its average volume of 244,322. The stock has a 50 day moving average price of $3.05 and a 200-day moving average price of $3.11. The company has a market cap of $130.89 million, a PE ratio of -2.93 and a beta of 1.07. Clarus has a 12 month low of $2.53 and a 12 month high of $4.03.

Clarus Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in Clarus by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company’s stock worth $620,000 after buying an additional 10,873 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Clarus in the first quarter valued at about $107,000. Marshall Wace LLP bought a new position in shares of Clarus during the second quarter valued at about $100,000. Gabelli Funds LLC boosted its holdings in Clarus by 16.7% during the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock worth $243,000 after purchasing an additional 10,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Clarus by 344.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company’s stock worth $233,000 after purchasing an additional 51,548 shares in the last quarter. Institutional investors own 90.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.