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

StockNews.com began coverage on shares of ClearOne (NASDAQ:CLRO) in a report issued on Monday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

ClearOne Stock Performance

ClearOne stock opened at $0.59 on Monday. The business’s fifty day moving average is $0.59 and its two-hundred day moving average is $0.76. The firm has a market cap of $14.09 million, a P/E ratio of -8.40 and a beta of 0.81. ClearOne has a 52 week low of $0.53 and a 52 week high of $2.48.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT raised its holdings in shares of ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,000 shares of the communications equipment provider’s stock after purchasing an additional 206,000 shares during the period. Albion Financial Group UT owned 0.88% of ClearOne worth $384,000 as of its most recent filing with the Securities and Exchange Commission. 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.