ClearOne (NASDAQ:CLRO) Major Shareholder Finance Ltd. First Buys 437,500 Shares of Stock

ClearOne, Inc. (NASDAQ:CLRO) major shareholder Finance Ltd. First acquired 437,500 shares of the stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $4.00 per share, with a total value of $1,750,000.00. Following the transaction, the insider directly owned 1,641,162 shares of the company’s stock, valued at approximately $6,564,648. The trade was a 36.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ClearOne Stock Down 0.4%

Shares of NASDAQ CLRO opened at $4.55 on Friday. The firm’s fifty day moving average is $5.91 and its 200 day moving average is $5.38. ClearOne, Inc. has a 52 week low of $3.83 and a 52 week high of $15.42. The company has a market cap of $10.19 million, a price-to-earnings ratio of -0.65 and a beta of -0.01.

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. DRW Securities LLC boosted its stake in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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. 9.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ClearOne in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, ClearOne has a consensus 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.