ClearOne, Inc. (CLRO) Receives Average Rating of “Strong Buy” from Brokerages
ClearOne, Inc. (NASDAQ:CLRO) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price target of $8.50 for the company and are forecasting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given ClearOne an industry rank of 66 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently commented on CLRO shares. ValuEngine upgraded ClearOne from a “sell” rating to a “hold” rating in a report on Friday, September 1st. B. Riley reiterated a “buy” rating and issued a $8.50 price objective on shares of ClearOne in a report on Thursday, November 9th. Finally, TheStreet downgraded ClearOne from a “c-” rating to a “d+” rating in a report on Friday, November 10th.
In related news, major shareholder Edward D. Bagley acquired 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average price of $7.00 per share, for a total transaction of $2,100,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Edward D. Bagley acquired 12,001 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was bought at an average price of $7.60 per share, with a total value of $91,207.60. Following the acquisition, the insider now directly owns 2,005,377 shares of the company’s stock, valued at approximately $15,240,865.20. The disclosure for this purchase can be found here. Insiders purchased 357,467 shares of company stock valued at $2,499,924 in the last quarter. 9.45% of the stock is currently owned by corporate insiders.
ClearOne (NASDAQ CLRO) traded up $0.10 during mid-day trading on Wednesday, hitting $8.95. The stock had a trading volume of 16,388 shares, compared to its average volume of 34,819. The company has a market capitalization of $75.31, a P/E ratio of 296.67 and a beta of 1.32. ClearOne has a 12 month low of $6.70 and a 12 month high of $12.60.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Wednesday, November 22nd were issued a $0.07 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $0.28 dividend on an annualized basis and a yield of 3.13%. ClearOne’s dividend payout ratio is presently -20.59%.
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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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