TheStreet Upgrades ClearOne Inc. (CLRO) to Buy
ClearOne Inc. (NASDAQ:CLRO) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Other research analysts also recently issued reports about the company. B. Riley restated a “buy” rating and set a $12.50 target price on shares of ClearOne in a research note on Monday, November 14th. Zacks Investment Research upgraded ClearOne from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, August 10th. Finally, Singular Research began coverage on ClearOne in a research note on Wednesday, September 7th. They set a “buy” rating and a $14.50 target price on the stock.
ClearOne (NASDAQ:CLRO) opened at 11.05 on Tuesday. The company has a market cap of $98.07 million, a P/E ratio of 20.43 and a beta of 1.26. The stock has a 50 day moving average price of $10.95 and a 200 day moving average price of $11.12. ClearOne has a 1-year low of $9.51 and a 1-year high of $13.45.
ClearOne (NASDAQ:CLRO) last announced its earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. ClearOne had a return on equity of 8.54% and a net margin of 9.78%. The firm had revenue of $12.90 million for the quarter, compared to the consensus estimate of $13.76 million. On average, equities research analysts anticipate that ClearOne will post $0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $0.20 annualized dividend and a yield of 1.81%. ClearOne’s payout ratio is presently 37.74%.
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Hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its stake in ClearOne by 373.8% in the third quarter. Morgan Stanley now owns 9,475 shares of the company’s stock valued at $106,000 after buying an additional 7,475 shares during the last quarter. Northern Trust Corp boosted its position in shares of ClearOne by 1.9% in the third quarter. Northern Trust Corp now owns 10,591 shares of the company’s stock valued at $119,000 after buying an additional 202 shares during the period. Vanguard Group Inc. boosted its position in shares of ClearOne by 0.4% in the second quarter. Vanguard Group Inc. now owns 137,333 shares of the company’s stock valued at $1,538,000 after buying an additional 503 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of ClearOne by 17.7% in the first quarter. Wellington Management Group LLP now owns 705,956 shares of the company’s stock valued at $8,189,000 after buying an additional 105,942 shares during the period. Institutional investors and hedge funds own 19.31% of the company’s stock.
ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.
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