ClearOne (NASDAQ:CLRO) Shares Cross Above 200 Day Moving Average – Here’s Why

ClearOne, Inc. (NASDAQ:CLRO)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.50 and traded as high as $6.86. ClearOne shares last traded at $6.6150, with a volume of 3,916 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ClearOne in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

ClearOne Price Performance

The firm has a fifty day simple moving average of $5.44 and a 200-day simple moving average of $5.46. The firm has a market cap of $14.82 million, a P/E ratio of -0.95 and a beta of -0.09.

ClearOne (NASDAQ:CLRO) last issued its earnings results on Friday, November 14th. The communications equipment provider reported ($0.50) earnings per share for the quarter. ClearOne had a negative return on equity of 73.47% and a negative net margin of 120.46%.

Insider Buying and Selling at ClearOne

In other news, major shareholder Edward D. Bagley sold 700,000 shares of ClearOne stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $3.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the insider directly owned 140,668 shares in the company, valued at $422,004. This trade represents a 83.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

About ClearOne

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.