StockNews.com Begins Coverage on ClearOne (NASDAQ:CLRO)

StockNews.com initiated coverage on shares of ClearOne (NASDAQ:CLRO) in a report issued on Tuesday. The firm issued a hold rating on the communications equipment provider’s stock.

ClearOne Trading Down 5.7 %

Shares of CLRO stock opened at $1.83 on Tuesday. The stock has a market capitalization of $43.85 million, a P/E ratio of 2.18 and a beta of 0.81. The firm’s 50 day moving average is $1.21 and its 200 day moving average is $0.94. ClearOne has a 12 month low of $0.64 and a 12 month high of $2.65.

ClearOne Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Tuesday, April 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 11th.

Hedge Funds Weigh In On ClearOne

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of ClearOne by 86.0% during the 2nd quarter. Renaissance Technologies LLC now owns 838,072 shares of the communications equipment provider’s stock valued at $694,000 after purchasing an additional 387,412 shares during the last quarter. Marshall Wace LLP bought a new position in shares of ClearOne during the 2nd quarter valued at $54,000. State Street Corp bought a new position in shares of ClearOne during the 2nd quarter valued at $32,000. Finally, BlackRock Inc. grew its holdings in ClearOne by 365,044.4% in the 2nd quarter. BlackRock Inc. now owns 32,863 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 32,854 shares during the last quarter. Institutional investors own 9.58% of the company’s stock.

ClearOne Company Profile

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.