Analysts Set $8.50 Target Price for ClearOne, Inc. (CLRO)
ClearOne, Inc. (NASDAQ:CLRO) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price objective of $8.50 for the company and are forecasting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also given ClearOne an industry rank of 80 out of 265 based on the ratings given to related companies.
A number of research analysts have commented on CLRO shares. ValuEngine upgraded shares of ClearOne from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley restated a “buy” rating and set a $8.50 price target on shares of ClearOne in a research note on Thursday, November 9th. Finally, TheStreet cut shares of ClearOne from a “c-” rating to a “d+” rating in a research note on Friday.
Shares of ClearOne (NASDAQ:CLRO) traded up $0.10 on Friday, reaching $6.80. 8,600 shares of the company’s stock were exchanged, compared to its average volume of 9,972. The company has a market capitalization of $56.50, a PE ratio of 223.33 and a beta of 1.36. ClearOne has a 1 year low of $6.70 and a 1 year high of $12.60.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, November 21st. ClearOne’s dividend payout ratio is -20.74%.
In other news, major shareholder Edward D. Bagley bought 10,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $7.68 per share, for a total transaction of $76,800.00. Following the completion of the purchase, the insider now owns 1,870,914 shares of the company’s stock, valued at approximately $14,368,619.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Edward D. Bagley bought 15,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was purchased at an average price of $7.65 per share, with a total value of $114,750.00. Following the purchase, the insider now directly owns 1,900,518 shares of the company’s stock, valued at approximately $14,538,962.70. The disclosure for this purchase can be found here. Insiders bought 194,912 shares of company stock valued at $1,444,630 in the last quarter. 9.45% of the stock is currently owned by corporate insiders.
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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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