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

ClearOne, Inc. (NASDAQ:CLRO) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 24,903 shares, a drop of 53.0% from the August 15th total of 52,965 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 49,168 shares, the short-interest ratio is currently 0.5 days.

ClearOne Stock Performance

NASDAQ CLRO opened at $4.99 on Monday. The stock’s 50 day moving average is $6.17 and its 200 day moving average is $4.53. ClearOne has a 12 month low of $2.71 and a 12 month high of $16.50. The stock has a market cap of $13.37 million, a PE ratio of -4.34 and a beta of 0.16.

ClearOne (NASDAQ:CLRO) last announced its quarterly earnings data on Friday, August 14th. The communications equipment provider reported ($0.34) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its stake in ClearOne stock. DRW Securities LLC raised its stake in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,064 shares of the communications equipment provider’s stock after acquiring an additional 10,452 shares during the period. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 as of its most recent SEC filing. Institutional investors own 9.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CLRO shares. Wall Street Zen upgraded shares of ClearOne to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ClearOne in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, ClearOne currently has an average rating of “Sell”.

ClearOne Company Profile

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.