ClearOne (NASDAQ:CLRO) Releases Earnings Results

ClearOne (NASDAQ:CLRO) released its earnings results on Tuesday. The communications equipment provider reported ($2.38) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of ($4.23) million for the quarter.

ClearOne Price Performance

NASDAQ CLRO opened at $3.25 on Thursday. The firm has a market capitalization of $7.28 million, a PE ratio of -0.47 and a beta of 0.12. The company’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.36. ClearOne has a 12 month low of $3.22 and a 12 month high of $15.42.

Insider Transactions at ClearOne

In other ClearOne news, major shareholder Finance Ltd. First bought 437,500 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were bought at an average price of $4.00 per share, for a total transaction of $1,750,000.00. Following the acquisition, the insider directly owned 1,641,162 shares of the company’s stock, valued at approximately $6,564,648. This trade represents a 36.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC boosted its position in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,064 shares of the communications equipment provider’s stock after buying an additional 10,452 shares during the quarter. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 at the end of the most recent reporting period. Institutional investors own 9.58% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ClearOne in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

ClearOne Company Profile

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.