ClearOne (NASDAQ:CLRO) Earns Hold Rating from Analysts at StockNews.com

Posted by Paula Ricardo on Sep 23rd, 2024

StockNews.com started coverage on shares of ClearOne (NASDAQ:CLRO – Free Report) in a research note released on Friday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

ClearOne Stock Down 3.4 %

Shares of ClearOne stock opened at $0.58 on Friday. The firm has a market cap of $13.84 million, a PE ratio of -8.25 and a beta of 0.80. ClearOne has a 12-month low of $0.53 and a 12-month high of $2.48. The company’s fifty day simple moving average is $0.63 and its two-hundred day simple moving average is $0.90.

ClearOne (NASDAQ:CLRO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $2.30 million during the quarter. ClearOne had a negative return on equity of 19.94% and a negative net margin of 22.89%.

Institutional Investors Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. Albion Financial Group UT grew its stake in shares of ClearOne, Inc. (NASDAQ:CLRO – Free Report) by 5,150.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the communications equipment provider’s stock after purchasing an additional 206,000 shares during the period. Albion Financial Group UT owned approximately 0.88% of ClearOne worth $384,000 as of its most recent SEC filing. 9.58% of the stock is currently owned by institutional investors.

ClearOne Company Profile

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ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally. The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.