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

Posted by on Jun 8th, 2023

Stock analysts at StockNews.com started coverage on shares of ClearOne (NASDAQ:CLRO – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Separately, TheStreet upgraded shares of ClearOne from a “d” rating to a “c” rating in a research note on Friday, April 21st.

ClearOne Stock Performance

Shares of NASDAQ CLRO opened at $1.02 on Thursday. The stock has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.50. The stock has a market capitalization of $24.44 million, a PE ratio of 1.16 and a beta of 0.99. ClearOne has a 52 week low of $0.50 and a 52 week high of $2.65.

ClearOne (NASDAQ:CLRO – Get Rating) last released its earnings results on Friday, March 31st. The communications equipment provider reported ($0.09) earnings per share for the quarter. The firm had revenue of $4.02 million during the quarter. ClearOne had a net margin of 99.33% and a negative return on equity of 9.72%.

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. Renaissance Technologies LLC raised its position in ClearOne, Inc. (NASDAQ:CLRO – Get Rating) by 28.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,660 shares of the communications equipment provider’s stock after buying an additional 100,100 shares during the quarter. Renaissance Technologies LLC owned 1.88% of ClearOne worth $680,000 at the end of the most recent reporting period. 3.59% of the stock is owned by hedge funds and other institutional investors.

ClearOne Company Profile

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ClearOne, Inc engages in the design, development, and sale of conferencing, collaboration, and network streaming solutions for voice and visual communications. Its products include professional audio conferencing, speakerphones, professional microphones, and video collaboration. The company was founded in 1983 and is headquartered in Salt Lake City, UT.

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