ClearOne, Inc. (NASDAQ:CLRO) Sees Large Decrease in Short Interest

by · The Cerbat Gem

ClearOne, Inc. (NASDAQ:CLROGet Free Report) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,330 shares, a drop of 19.0% from the March 31st total of 1,641 shares. Based on an average trading volume of 6,483 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

ClearOne Stock Performance

Shares of CLRO traded up $0.21 during midday trading on Friday, hitting $3.49. The company had a trading volume of 2,667 shares, compared to its average volume of 9,031. The company’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $5.03. The firm has a market capitalization of $9.33 million, a P/E ratio of -0.26 and a beta of 0.12. ClearOne has a 1 year low of $2.71 and a 1 year high of $15.42.

ClearOne (NASDAQ:CLROGet Free Report) last posted its earnings results on Tuesday, March 31st. The communications equipment provider reported ($2.38) earnings per share for the quarter. The company had revenue of ($4.23) million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Check Out Our Latest Research Report on CLRO

Insider Activity

In other ClearOne news, major shareholder Finance Ltd. First acquired 437,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $4.00 per share, for a total transaction of $1,750,000.00. Following the completion of the transaction, the insider owned 1,641,162 shares of the company’s stock, valued at approximately $6,564,648. The trade was a 36.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ClearOne stock. DRW Securities LLC increased its stake in ClearOne, Inc. (NASDAQ:CLROFree Report) by 53.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,064 shares of the communications equipment provider’s stock after purchasing an additional 10,452 shares during the quarter. DRW Securities LLC owned 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.

ClearOne Company Profile

(Get Free Report)

ClearOne (NASDAQ:CLRO) is a global provider of audio and visual communication solutions designed for conferencing, collaboration and streaming applications. Headquartered in Salt Lake City, Utah, the company develops hardware and software systems that integrate audio capture, video processing and digital signage. Its product portfolio spans professional-grade conference speakers and microphones, beamforming ceiling arrays, USB and networked video cameras, and cloud-based collaboration platforms.

At the core of ClearOne’s offering are its conferencing devices, which support both on-premises and cloud deployments.

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