ClearOne, Inc. (NASDAQ:CLRO) Sees Significant Decrease in Short Interest

ClearOne, Inc. (NASDAQ:CLRO) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 539 shares, a decline of 71.5% from the February 26th total of 1,891 shares. Based on an average daily volume of 7,255 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

ClearOne Stock Performance

Shares of CLRO traded down $0.13 during mid-day trading on Friday, hitting $3.77. 1,809 shares of the stock were exchanged, compared to its average volume of 9,743. The company has a market cap of $8.44 million, a PE ratio of -0.55 and a beta of -0.01. ClearOne has a 52-week low of $3.83 and a 52-week high of $15.42. The firm has a 50-day moving average of $5.54 and a two-hundred day moving average of $5.39.

Insiders Place Their Bets

In other news, major shareholder Finance Ltd. First acquired 437,500 shares of ClearOne stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $4.00 per share, with a total value of $1,750,000.00. Following the completion of the purchase, the insider directly owned 1,641,162 shares in the company, valued at approximately $6,564,648. This trade represents a 36.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of ClearOne

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC grew its stake in shares of ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,064 shares of the communications equipment provider’s stock after purchasing an additional 10,452 shares during the quarter. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of ClearOne in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average 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.