ClearOne (NASDAQ:CLRO) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of ClearOne (NASDAQ:CLRO) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the communications equipment provider’s stock.

ClearOne Price Performance

Shares of CLRO opened at $0.60 on Friday. The company has a market capitalization of $14.33 million, a price-to-earnings ratio of -8.54 and a beta of 0.80. The business’s 50-day moving average is $0.63 and its 200-day moving average is $0.90. ClearOne has a fifty-two week low of $0.53 and a fifty-two week high of $2.48.

ClearOne (NASDAQ:CLRO) last posted 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 return on equity of 19.94% and a negative net margin of 22.89%.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT lifted its holdings in ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 210,000 shares of the communications equipment provider’s stock after buying an additional 206,000 shares during the quarter. Albion Financial Group UT owned about 0.88% of ClearOne worth $384,000 at the end of the most recent quarter. 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.