Clearone Inc (CLRO) Receives Average Recommendation of “Strong Buy” from Brokerages

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Clearone Inc (NASDAQ:CLRO) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus target price of $6.00 for the company, according to Zacks. Zacks has also given Clearone an industry rank of 89 out of 256 based on the ratings given to related companies.

Separately, ValuEngine lowered Clearone from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

NASDAQ:CLRO traded up $0.01 during trading hours on Friday, hitting $1.49. The company’s stock had a trading volume of 1,744 shares, compared to its average volume of 48,936. Clearone has a 52-week low of $1.12 and a 52-week high of $8.90.

Clearone (NASDAQ:CLRO) last posted its earnings results on Tuesday, November 13th. The communications equipment provider reported ($1.16) EPS for the quarter. The business had revenue of $6.68 million during the quarter. Clearone had a negative net margin of 58.81% and a negative return on equity of 29.31%.

In other Clearone news, CEO Zeynep Hakimoglu bought 30,974 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were purchased at an average price of $1.27 per share, with a total value of $39,336.98. Following the completion of the acquisition, the chief executive officer now directly owns 358,897 shares of the company’s stock, valued at approximately $455,799.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 207,315 shares of company stock worth $260,176 in the last three months. 9.71% of the stock is currently owned by corporate insiders.

Clearone Company Profile

ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, streaming, and digital signage solutions for voice and visual communications in the United States and internationally. The company offers various professional audio communication products, including professional 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; and professional microphones for use in various applications.

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