Short Interest in Clarus Corp (NASDAQ:CLAR) Increases By 76.6%

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Clarus Corp (NASDAQ:CLAR) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 306,700 shares, a growth of 76.6% from the April 30th total of 173,700 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 140,700 shares, the days-to-cover ratio is presently 2.2 days.

NASDAQ CLAR traded down $0.10 on Wednesday, reaching $13.55. The stock had a trading volume of 1,987 shares, compared to its average volume of 92,768. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.25 and a quick ratio of 2.22. Clarus has a 1 year low of $7.40 and a 1 year high of $14.90. The company has a market capitalization of $410.69 million, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

Clarus (NASDAQ:CLAR) last issued its earnings results on Monday, May 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Clarus had a return on equity of 11.92% and a net margin of 4.85%. The firm had revenue of $61.22 million for the quarter, compared to the consensus estimate of $58.13 million. On average, equities analysts anticipate that Clarus will post 0.69 EPS for the current year.

CLAR has been the topic of a number of research analyst reports. BidaskClub upgraded Clarus from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Lake Street Capital lifted their price target on Clarus to $15.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research downgraded Clarus from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.75.

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in Clarus in the fourth quarter valued at about $58,000. Metropolitan Life Insurance Co. NY purchased a new position in Clarus in the fourth quarter valued at about $77,000. Strs Ohio purchased a new position in Clarus in the first quarter valued at about $108,000. Handelsinvest Investeringsforvaltning purchased a new position in Clarus in the first quarter valued at about $128,000. Finally, MetLife Investment Advisors LLC purchased a new position in Clarus in the fourth quarter valued at about $105,000. Hedge funds and other institutional investors own 60.30% of the company’s stock.

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About Clarus

Clarus Corporation focuses on the outdoor and consumer industries in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. The company develops, manufactures, and distributes outdoor equipment and lifestyle products with focus on the climb, ski, mountain, sport, and skincare categories.

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