Clarus Corp (NASDAQ:CLAR) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 711,000 shares, a drop of 15.5% from the July 31st total of 841,000 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average daily volume of 189,900 shares, the days-to-cover ratio is currently 3.7 days.
Shares of CLAR traded down $0.02 during mid-day trading on Thursday, hitting $11.84. The company had a trading volume of 3,543 shares, compared to its average volume of 162,494. The business’s 50-day simple moving average is $11.84 and its 200-day simple moving average is $12.87. The company has a quick ratio of 1.39, a current ratio of 3.96 and a debt-to-equity ratio of 0.10. Clarus has a 1-year low of $8.56 and a 1-year high of $15.10. The stock has a market cap of $354.51 million, a PE ratio of 20.77 and a beta of 1.39.
Clarus (NASDAQ:CLAR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Clarus had a return on equity of 11.22% and a net margin of 4.87%. The business had revenue of $46.99 million during the quarter, compared to analyst estimates of $44.73 million. On average, sell-side analysts expect that Clarus will post 0.69 earnings per share for the current year.
CLAR has been the topic of a number of analyst reports. ValuEngine cut Clarus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. DA Davidson reaffirmed a “neutral” rating on shares of Clarus in a research note on Thursday, August 15th. Macquarie started coverage on Clarus in a research note on Friday, July 12th. They set an “outperform” rating and a $20.00 price objective on the stock. Zacks Investment Research cut Clarus from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Roth Capital reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Clarus in a research note on Tuesday, August 6th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Clarus currently has a consensus rating of “Hold” and an average price target of $16.25.
Several hedge funds and other institutional investors have recently made changes to their positions in CLAR. Handelsbanken Fonder AB grew its stake in Clarus by 24.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 62,000 shares of the company’s stock worth $895,000 after acquiring an additional 12,000 shares in the last quarter. Cortina Asset Management LLC acquired a new stake in Clarus during the 2nd quarter worth about $5,351,000. RK Capital Management LLC acquired a new stake in Clarus during the 2nd quarter worth about $3,399,000. Strs Ohio raised its holdings in Clarus by 167.1% during the 2nd quarter. Strs Ohio now owns 22,700 shares of the company’s stock worth $327,000 after buying an additional 14,200 shares during the period. Finally, Baker Ellis Asset Management LLC grew its stake in Clarus by 168.6% during the 1st quarter. Baker Ellis Asset Management LLC now owns 27,400 shares of the company’s stock valued at $351,000 after acquiring an additional 17,200 shares in the last quarter. 64.62% of the stock is owned by institutional investors and hedge funds.
Clarus Company Profile
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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