Clearone Inc (NASDAQ:CLRO) Given Consensus Rating of “Strong Buy” by Brokerages

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

Brokerages have set a 12 month consensus target price of $6.00 for the company, according to Zacks. Zacks has also given Clearone an industry rank of 103 out of 256 based on the ratings given to its competitors.

Shares of Clearone stock traded down $0.01 during trading on Friday, hitting $2.38. 1,896 shares of the stock traded hands, compared to its average volume of 14,714. The business’s fifty day moving average is $2.21. 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 has a twelve month low of $1.12 and a twelve month high of $3.85.

Clearone (NASDAQ:CLRO) last issued its quarterly earnings results on Monday, May 20th. The communications equipment provider reported ($0.12) EPS for the quarter. Clearone had a negative return on equity of 31.02% and a negative net margin of 63.26%. The business had revenue of $6.31 million during the quarter.

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

About Clearone

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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