ClearOne (NASDAQ:CLRO) Research Coverage Started at StockNews.com

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

ClearOne Stock Performance

CLRO opened at $0.97 on Friday. ClearOne has a fifty-two week low of $0.64 and a fifty-two week high of $2.65. The company has a market capitalization of $23.20 million, a P/E ratio of -48.40 and a beta of 0.92. The stock has a fifty day moving average of $1.31 and a 200-day moving average of $1.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of 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 during the period. Marshall Wace LLP bought a new position in shares of ClearOne in the second quarter worth $54,000. State Street Corp bought a new position in ClearOne in the second quarter valued at about $32,000. Finally, BlackRock Inc. grew 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 valued at $27,000 after acquiring an additional 32,854 shares during the last quarter. Institutional investors own 9.58% of the company’s stock.

About ClearOne

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.