Insider Buying: ClearOne (NASDAQ:CLRO) Major Shareholder Buys 437,500 Shares of Stock

ClearOne, Inc. (NASDAQ:CLRO) major shareholder Finance Ltd. First purchased 437,500 shares of ClearOne stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $4.00 per share, for a total transaction of $1,750,000.00. Following the completion of the transaction, the insider owned 1,641,162 shares in the company, valued at $6,564,648. The trade was a 36.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ClearOne Stock Performance

CLRO stock opened at $4.57 on Friday. The company has a market capitalization of $10.24 million, a price-to-earnings ratio of -0.65 and a beta of -0.01. The business’s 50 day moving average price is $5.93 and its two-hundred day moving average price is $5.37. ClearOne, Inc. has a fifty-two week low of $3.83 and a fifty-two week high of $15.42.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ClearOne in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, ClearOne has an average rating of “Sell”.

Hedge Funds Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. DRW Securities LLC grew its position in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,064 shares of the communications equipment provider’s stock after buying an additional 10,452 shares during the quarter. DRW Securities LLC owned 1.34% of ClearOne worth $153,000 as of its most recent filing with the Securities and Exchange Commission. 9.58% of the stock is owned by hedge funds and other institutional investors.

ClearOne Company Profile

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.