ClearOne (NASDAQ:CLRO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of ClearOne (NASDAQ:CLRO) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

ClearOne Stock Performance

Shares of NASDAQ CLRO opened at $1.83 on Tuesday. ClearOne has a 1 year low of $0.64 and a 1 year high of $2.65. The firm has a market cap of $43.85 million, a price-to-earnings ratio of 2.18 and a beta of 0.81. The stock’s 50-day simple moving average is $1.22 and its 200-day simple moving average is $0.95.

ClearOne Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 11th. ClearOne’s payout ratio is 33.33%.

Hedge Funds Weigh In On ClearOne

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in ClearOne in the second quarter worth about $54,000. State Street Corp acquired a new position in ClearOne in the second quarter worth about $32,000. Renaissance Technologies LLC grew its stake in ClearOne by 86.0% in the second quarter. Renaissance Technologies LLC now owns 838,072 shares of the communications equipment provider’s stock worth $694,000 after purchasing an additional 387,412 shares in the last quarter. Finally, BlackRock Inc. grew its stake in ClearOne by 365,044.4% in the second quarter. BlackRock Inc. now owns 32,863 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 32,854 shares in the last quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.

About ClearOne

ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally. The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.