StockNews.com Initiates Coverage on ClearOne (NASDAQ:CLRO)

StockNews.com initiated coverage on shares of ClearOne (NASDAQ:CLRO) in a research report report published on Saturday morning. The firm issued a hold rating on the communications equipment provider’s stock.

ClearOne Stock Performance

CLRO stock opened at $0.62 on Friday. The firm has a 50 day moving average price of $0.61 and a 200-day moving average price of $0.86. ClearOne has a 52-week low of $0.53 and a 52-week high of $2.48. The firm has a market capitalization of $14.86 million, a price-to-earnings ratio of -8.86 and a beta of 0.80.

ClearOne (NASDAQ:CLRO) last announced its quarterly earnings results on Wednesday, August 14th. The communications equipment provider reported ($0.12) earnings per share for the quarter. The firm had revenue of $2.30 million for the quarter. ClearOne had a negative net margin of 22.89% and a negative return on equity of 19.94%.

Institutional Investors Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. Albion Financial Group UT grew its holdings in shares of ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,000 shares of the communications equipment provider’s stock after acquiring an additional 206,000 shares during the period. Albion Financial Group UT owned about 0.88% of ClearOne worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.58% of the stock is owned by hedge funds and other institutional investors.

About ClearOne

ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally. The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.