ClearOne (NASDAQ:CLRO) Releases Quarterly Earnings Results

ClearOne (NASDAQ:CLRO) announced its quarterly earnings results on Tuesday. The communications equipment provider reported ($0.30) EPS for the quarter, Zacks reports.

ClearOne Stock Down 9.6%

Shares of CLRO traded down $0.44 during mid-day trading on Tuesday, hitting $4.16. 158,443 shares of the company’s stock traded hands, compared to its average volume of 2,494,381. ClearOne has a 1 year low of $1.62 and a 1 year high of $16.50. The firm has a market capitalization of $11.15 million, a P/E ratio of -3.62 and a beta of 0.36. The business’s 50-day moving average price is $4.26 and its 200-day moving average price is $4.66.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of ClearOne in a research report on Thursday, August 27th. Wall Street Zen upgraded ClearOne to a “sell” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

ClearOne Company Profile

ClearOne, Inc. develops and sells audio and visual communications solutions for conferencing, collaboration, streaming and other professional communication applications. Its products are designed for businesses, educational institutions, government organizations and other organizations that need to support in-person, remote and hybrid interactions. The company’s product portfolio includes conference microphones, speakers, audio processors, mixers, video conferencing equipment, collaboration systems and related software.