ClearOne (NASDAQ:CLRO) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

ClearOne, Inc. (NASDAQ:CLRO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.16 and traded as low as $3.13. ClearOne shares last traded at $3.2330, with a volume of 14,567 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ClearOne in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

ClearOne Price Performance

The stock has a 50 day simple moving average of $4.24 and a two-hundred day simple moving average of $5.13. The company has a market cap of $8.42 million, a price-to-earnings ratio of -0.23 and a beta of 0.12.

ClearOne (NASDAQ:CLRO) last released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported ($2.38) earnings per share for the quarter. The business had revenue of ($4.23) million during the quarter.

Insiders Place Their Bets

In related news, major shareholder Finance Ltd. First acquired 437,500 shares of the stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $4.00 per share, with a total value of $1,750,000.00. Following the completion of the purchase, the insider owned 1,641,162 shares of the company’s stock, valued at approximately $6,564,648. This represents a 36.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. DRW Securities LLC grew its holdings in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,064 shares of the communications equipment provider’s stock after purchasing an additional 10,452 shares during the period. DRW Securities LLC owned approximately 1.34% of ClearOne worth $153,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 9.58% of the company’s stock.

About ClearOne

ClearOne (NASDAQ:CLRO) is a global provider of audio and visual communication solutions designed for conferencing, collaboration and streaming applications. Headquartered in Salt Lake City, Utah, the company develops hardware and software systems that integrate audio capture, video processing and digital signage. Its product portfolio spans professional-grade conference speakers and microphones, beamforming ceiling arrays, USB and networked video cameras, and cloud-based collaboration platforms.

At the core of ClearOne’s offering are its conferencing devices, which support both on-premises and cloud deployments.