Zacks: ClearOne Inc. (NASDAQ:CLRO) Given $13.88 Consensus Target Price by Analysts
ClearOne Inc. (NASDAQ:CLRO) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price objective of $13.88 for the company and are predicting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also assigned ClearOne an industry rank of 168 out of 265 based on the ratings given to related companies.
Several equities research analysts have weighed in on the stock. B. Riley restated a “buy” rating and issued a $13.25 target price on shares of ClearOne in a research note on Sunday, August 14th. Zacks Investment Research upgraded shares of ClearOne from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, August 10th. Singular Research began coverage on shares of ClearOne in a research note on Wednesday, September 7th. They set a “buy” rating and a $14.50 price objective for the company. Finally, TheStreet downgraded shares of ClearOne from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th.
In related news, Director Scott Huntsman sold 35,832 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $11.27, for a total transaction of $403,826.64. Following the completion of the transaction, the director now owns 95,468 shares of the company’s stock, valued at $1,075,924.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.51% of the company’s stock.
A hedge fund recently raised its stake in ClearOne stock. Wellington Management Group LLP raised its stake in ClearOne Inc. (NASDAQ:CLRO) by 17.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 705,956 shares of the company’s stock after buying an additional 105,942 shares during the period. Wellington Management Group LLP owned 7.72% of ClearOne worth $8,189,000 at the end of the most recent reporting period. Institutional investors own 18.62% of the company’s stock.
ClearOne (NASDAQ:CLRO) opened at 11.05 on Thursday. The stock has a market capitalization of $99.12 million, a price-to-earnings ratio of 16.72 and a beta of 0.85. The company has a 50-day moving average of $10.97 and a 200-day moving average of $11.14. ClearOne has a one year low of $9.51 and a one year high of $13.45.
ClearOne (NASDAQ:CLRO) last announced its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.07. The firm earned $11.97 million during the quarter, compared to analyst estimates of $13.39 million. ClearOne had a net margin of 11.44% and a return on equity of 9.60%. On average, equities analysts forecast that ClearOne will post $0.80 EPS for the current fiscal year.
ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.
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