ClearOne (NASDAQ:CLRO) Posts Earnings Results

ClearOne (NASDAQ:CLRO) issued its earnings results on Tuesday. The communications equipment provider reported ($2.38) earnings per share for the quarter, FiscalAI reports. The business had revenue of ($4.23) million for the quarter. ClearOne had a negative return on equity of 73.47% and a negative net margin of 120.46%.

ClearOne Trading Down 1.4%

Shares of ClearOne stock traded down $0.05 on Tuesday, hitting $3.56. The stock had a trading volume of 6,187 shares, compared to its average volume of 7,096. The stock has a market cap of $7.97 million, a price-to-earnings ratio of -0.51 and a beta of -0.01. ClearOne has a 52-week low of $3.37 and a 52-week high of $15.42. The company’s 50 day moving average price is $5.35 and its 200 day moving average price is $5.38.

Insider Buying and Selling

In other news, major shareholder Finance Ltd. First purchased 437,500 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $4.00 per share, with a total value of $1,750,000.00. Following the completion of the transaction, the insider directly owned 1,641,162 shares in the company, valued at approximately $6,564,648. This represents a 36.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC boosted its stake in shares of ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,064 shares of the communications equipment provider’s stock after acquiring an additional 10,452 shares during the quarter. DRW Securities LLC owned about 1.34% of ClearOne worth $153,000 as of its most recent filing with the Securities and Exchange Commission. 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 Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock 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.