ClearOne (NASDAQ:CLRO) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of ClearOne (NASDAQ:CLROGet Free Report) in a research note issued on Wednesday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

ClearOne Stock Performance

Shares of CLRO opened at $1.04 on Wednesday. The company has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $0.83. The firm has a market capitalization of $24.92 million, a P/E ratio of 1.24 and a beta of 0.85. ClearOne has a 52 week low of $0.64 and a 52 week high of $2.65.

ClearOne (NASDAQ:CLROGet Free Report) last announced its quarterly earnings data on Thursday, November 9th. The communications equipment provider reported ($0.05) EPS for the quarter. The company had revenue of $4.89 million for the quarter. ClearOne had a net margin of 112.14% and a negative return on equity of 11.13%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. 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 raised its position 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. BlackRock Inc. raised its position 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. Finally, Virtu Financial LLC acquired a new position in ClearOne in the second quarter worth about $52,000. Institutional investors and hedge funds own 7.28% of the company’s stock.

ClearOne Company Profile

(Get Free Report)

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.

Further Reading

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