Short Interest in ClearOne, Inc. (NASDAQ:CLRO) Grows By 232.4%

ClearOne, Inc. (NASDAQ:CLRO) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 4,421 shares, an increase of 232.4% from the April 15th total of 1,330 shares. Based on an average daily trading volume, of 6,169 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

Insiders Place Their Bets

In other ClearOne news, major shareholder Finance Ltd. First purchased 437,500 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $4.00 per share, for a total transaction of $1,750,000.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC increased its position in shares of ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,064 shares of the communications equipment provider’s stock after buying an additional 10,452 shares during the period. DRW Securities LLC owned 1.34% of ClearOne worth $153,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.58% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

ClearOne Stock Up 0.7%

Shares of NASDAQ:CLRO traded up $0.02 during trading on Thursday, reaching $3.32. The stock had a trading volume of 747 shares, compared to its average volume of 8,641. The business has a fifty day moving average price of $3.67 and a 200-day moving average price of $4.93. The stock has a market cap of $8.91 million, a P/E ratio of -0.25 and a beta of 0.16. ClearOne has a fifty-two week low of $2.71 and a fifty-two week high of $15.42.

ClearOne (NASDAQ:CLRO) last released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported ($2.38) earnings per share (EPS) for the quarter. The business had revenue of ($4.23) million for the quarter.

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.