Clear Secure (NYSE:YOU) Stock Price Down 5.5% – Here’s What Happened

Clear Secure, Inc. (NYSE:YOU) dropped 5.5% during trading on Friday . The stock traded as low as $22.65 and last traded at $22.65. Approximately 787,693 shares changed hands during trading, a decline of 48% from the average daily volume of 1,527,731 shares. The stock had previously closed at $23.98.

Analyst Ratings Changes

YOU has been the subject of several analyst reports. Telsey Advisory Group upped their target price on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wedbush reissued a “neutral” rating and issued a $26.00 price objective (up from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a research note on Monday, December 16th. Finally, Stifel Nicolaus increased their price objective on Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clear Secure presently has an average rating of “Moderate Buy” and an average target price of $35.20.

Clear Secure Stock Performance

The firm has a 50 day moving average of $25.57 and a 200-day moving average of $28.45. The stock has a market capitalization of $3.15 billion, a PE ratio of 26.28 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Clear Secure in the 3rd quarter worth about $26,000. GAMMA Investing LLC increased its position in Clear Secure by 221.6% in the 4th quarter. GAMMA Investing LLC now owns 1,119 shares of the company’s stock worth $30,000 after purchasing an additional 771 shares during the last quarter. Huntington National Bank acquired a new position in Clear Secure in the 4th quarter worth about $35,000. SRS Capital Advisors Inc. increased its position in Clear Secure by 56.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,132 shares of the company’s stock worth $57,000 after purchasing an additional 766 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its position in Clear Secure by 113,800.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company’s stock worth $61,000 after purchasing an additional 2,276 shares during the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.