ClearOne (NASDAQ:CLRO) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of ClearOne (NASDAQ:CLRO) in a research note issued on Sunday. The firm set a “buy” rating on the communications equipment provider’s stock.

ClearOne Trading Down 4.8 %

Shares of ClearOne stock opened at $1.00 on Friday. The company has a fifty day simple moving average of $1.31 and a 200-day simple moving average of $1.03. ClearOne has a 12-month low of $0.64 and a 12-month high of $2.65. The stock has a market cap of $23.97 million, a price-to-earnings ratio of -50.00 and a beta of 0.91.

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

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. Albion Financial Group UT boosted its holdings in shares of ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 SEC. 9.58% of the stock is currently owned by institutional investors and hedge funds.

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.