ClearOne, Inc. (NASDAQ:CLRO) Sees Significant Growth in Short Interest

ClearOne, Inc. (NASDAQ:CLRO) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 114,600 shares, an increase of 204.8% from the May 31st total of 37,600 shares. Based on an average daily volume of 221,500 shares, the short-interest ratio is presently 0.5 days. Currently, 1.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of ClearOne from a “buy” rating to a “hold” rating in a research report on Monday, May 13th.

ClearOne Stock Down 4.4 %

NASDAQ CLRO traded down $0.03 on Friday, hitting $0.65. The company’s stock had a trading volume of 63,525 shares, compared to its average volume of 146,840. ClearOne has a 1-year low of $0.63 and a 1-year high of $2.48. The company’s 50-day moving average is $0.82 and its 200 day moving average is $1.04. The firm has a market cap of $15.58 million, a PE ratio of -9.29 and a beta of 0.84.

ClearOne (NASDAQ:CLRO) last announced its quarterly earnings results on Monday, May 20th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter. ClearOne had a negative net margin of 8.96% and a negative return on equity of 12.92%. The business had revenue of $3.62 million during the quarter.

Institutional Investors Weigh In On ClearOne

An institutional investor recently raised its position in ClearOne stock. Albion Financial Group UT lifted its position in shares of ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,000 shares of the communications equipment provider’s stock after buying an additional 206,000 shares during the quarter. Albion Financial Group UT owned about 0.88% of ClearOne worth $384,000 at the end of the most recent reporting period. Hedge funds and other 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.