ClearOne (NASDAQ:CLRO) Shares Cross Below 200 Day Moving Average – Here’s Why

ClearOne, Inc. (NASDAQ:CLRO)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.74 and traded as low as $0.58. ClearOne shares last traded at $0.60, with a volume of 4,927 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on ClearOne in a report on Tuesday. They issued a “hold” rating for the company.

ClearOne Trading Up 1.5 %

The company has a fifty day simple moving average of $0.59 and a 200-day simple moving average of $0.74. The company has a market capitalization of $14.36 million, a PE ratio of -8.56 and a beta of 0.81.

ClearOne (NASDAQ:CLRO) last issued its 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 during the quarter. ClearOne had a negative net margin of 22.89% and a negative return on equity of 19.94%.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT grew its holdings in ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.88% of ClearOne worth $384,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 9.58% of the company’s stock.

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.