ClearOne (NASDAQ:CLRO) Posts Earnings Results

ClearOne (NASDAQ:CLRO) announced its quarterly earnings results on Friday. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, FiscalAI reports.

ClearOne Price Performance

ClearOne stock traded down $0.30 during trading hours on Friday, hitting $3.04. The stock had a trading volume of 3,747 shares, compared to its average volume of 6,744. ClearOne has a 1-year low of $2.71 and a 1-year high of $15.42. The stock has a market capitalization of $8.12 million, a price-to-earnings ratio of -0.22 and a beta of 0.16. The stock’s fifty day moving average is $3.61 and its two-hundred day moving average is $4.90.

Insider Buying and Selling

In other ClearOne news, major shareholder Finance Ltd. First bought 437,500 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $1,750,000.00. Following the acquisition, the insider owned 1,641,162 shares of the company’s stock, valued at $6,564,648. The trade was a 36.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC boosted its stake in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,064 shares of the communications equipment provider’s stock after buying an additional 10,452 shares during the quarter. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 9.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, ClearOne presently has a consensus rating of “Sell”.

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.