Edward Bagley Sells 700,000 Shares of ClearOne (NASDAQ:CLRO) Stock

ClearOne, Inc. (NASDAQ:CLRO) major shareholder Edward Bagley sold 700,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $3.00, for a total transaction of $2,100,000.00. Following the sale, the insider owned 140,668 shares of the company’s stock, valued at approximately $422,004. This represents a 83.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ClearOne Stock Up 1.5%

Shares of ClearOne stock traded up $0.07 during trading hours on Wednesday, reaching $4.68. 3,020 shares of the stock traded hands, compared to its average volume of 221,646. ClearOne, Inc. has a one year low of $3.83 and a one year high of $21.00. The firm has a market capitalization of $8.12 million, a price-to-earnings ratio of -0.67 and a beta of 0.28. The company has a 50 day moving average price of $5.33 and a 200 day moving average price of $16.51.

ClearOne (NASDAQ:CLRO) last posted its quarterly earnings data on Friday, November 14th. The communications equipment provider reported ($0.50) earnings per share (EPS) for the quarter. ClearOne had a negative return on equity of 57.86% and a negative net margin of 120.46%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of ClearOne in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About ClearOne

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.