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

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

ClearOne Trading Down 0.9 %

ClearOne stock opened at $0.96 on Friday. The stock has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.01. ClearOne has a 52 week low of $0.64 and a 52 week high of $2.65. The firm has a market capitalization of $22.98 million, a P/E ratio of -47.94 and a beta of 0.92.

ClearOne (NASDAQ:CLRO) last issued its quarterly earnings results on Tuesday, April 2nd. The communications equipment provider reported ($0.05) EPS for the quarter. The company had revenue of $4.15 million for the quarter. ClearOne had a negative return on equity of 10.61% and a negative net margin of 2.99%.

ClearOne Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, April 2nd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, April 11th.

Hedge Funds Weigh In On ClearOne

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in ClearOne by 365,044.4% in the second quarter. BlackRock Inc. now owns 32,863 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 32,854 shares during the period. State Street Corp acquired a new stake in shares of ClearOne in the second quarter valued at about $32,000. Marshall Wace LLP purchased a new stake in shares of ClearOne during the 2nd quarter valued at about $54,000. Albion Financial Group UT lifted its position in ClearOne by 5,150.0% during the 1st quarter. Albion Financial Group UT now owns 210,000 shares of the communications equipment provider’s stock worth $384,000 after acquiring an additional 206,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ClearOne by 28.6% in the 1st quarter. Renaissance Technologies LLC now owns 450,660 shares of the communications equipment provider’s stock worth $680,000 after acquiring an additional 100,100 shares during the period. Hedge funds and other institutional investors own 9.58% of the company’s stock.

ClearOne Company Profile

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.