ClearOne, Inc. (NASDAQ:CLRO) Short Interest Up 417.9% in June

ClearOne, Inc. (NASDAQ:CLRO) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 18,161 shares, a growth of 417.9% from the June 15th total of 3,507 shares. Based on an average daily volume of 38,692 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of ClearOne from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, ClearOne currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in ClearOne stock. DRW Securities LLC raised its holdings in ClearOne, Inc. (NASDAQ:CLRO) by 53.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 about 1.34% of ClearOne worth $153,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.

ClearOne Price Performance

Shares of NASDAQ:CLRO traded down $1.79 during trading on Monday, hitting $6.60. The company had a trading volume of 435,954 shares, compared to its average volume of 1,574,521. The stock has a market cap of $17.66 million, a price-to-earnings ratio of -1.93 and a beta of 0.13. The company has a fifty day simple moving average of $4.08 and a two-hundred day simple moving average of $4.64. ClearOne has a one year low of $2.71 and a one year high of $16.50.

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.