Clearone Inc (CLRO) Given $6.00 Average Price Target by Analysts

Shares of Clearone Inc (NASDAQ:CLRO) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $6.00 for the company, according to Zacks. Zacks has also assigned Clearone an industry rank of 100 out of 256 based on the ratings given to its competitors.

Shares of CLRO stock traded down $0.06 during trading hours on Friday, hitting $2.05. The stock had a trading volume of 12,843 shares, compared to its average volume of 11,823. Clearone has a twelve month low of $1.12 and a twelve month high of $6.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.59 and a quick ratio of 3.12.

Clearone (NASDAQ:CLRO) last posted its quarterly earnings data on Tuesday, April 16th. The communications equipment provider reported ($0.19) earnings per share for the quarter. The firm had revenue of $7.21 million during the quarter. Clearone had a negative net margin of 63.26% and a negative return on equity of 31.02%.

Several hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System raised its position in Clearone by 100.0% during the 4th quarter. California Public Employees Retirement System now owns 50,600 shares of the communications equipment provider’s stock worth $63,000 after buying an additional 25,300 shares during the last quarter. BlackRock Inc. raised its position in Clearone by 57.0% during the 4th quarter. BlackRock Inc. now owns 33,009 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 11,978 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in Clearone during the 4th quarter worth approximately $39,000. Dimensional Fund Advisors LP increased its holdings in shares of Clearone by 100.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 60,734 shares of the communications equipment provider’s stock valued at $76,000 after purchasing an additional 30,367 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Clearone by 100.0% during the 4th quarter. Geode Capital Management LLC now owns 38,214 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 19,107 shares in the last quarter. 5.22% of the stock is owned by institutional investors and hedge funds.

Clearone Company Profile

ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, streaming, and digital signage solutions for voice and visual communications in the United States and internationally. The company offers various professional audio communication products, including professional 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; and professional microphones for use in various applications.

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