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

Equities researchers at StockNews.com started coverage on shares of ClearOne (NASDAQ:CLRO) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the communications equipment provider’s stock.

ClearOne Trading Down 7.7 %

Shares of NASDAQ CLRO opened at $1.69 on Wednesday. The company has a market cap of $40.49 million, a price-to-earnings ratio of 2.01 and a beta of 0.91. ClearOne has a 12 month low of $0.64 and a 12 month high of $2.65. The stock has a 50-day moving average price of $1.25 and a two-hundred day moving average price of $0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of ClearOne by 28.6% during the first quarter. Renaissance Technologies LLC now owns 450,660 shares of the communications equipment provider’s stock valued at $680,000 after acquiring an additional 100,100 shares in the last quarter. BlackRock Inc. grew its stake in shares of 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 acquiring an additional 32,854 shares during the last quarter. State Street Corp purchased a new stake in shares of ClearOne during the second quarter valued at $32,000. Finally, Marshall Wace LLP purchased a new stake in shares of ClearOne during the second quarter valued at $54,000. Hedge funds and other institutional investors own 9.58% of the company’s stock.

ClearOne Company Profile

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.