ClearOne (NASDAQ:CLRO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of ClearOne (NASDAQ:CLRO) in a note issued to investors on Thursday. The firm set a “hold” rating on the communications equipment provider’s stock.

ClearOne Price Performance

NASDAQ:CLRO opened at $1.59 on Thursday. ClearOne has a 1-year low of $0.64 and a 1-year high of $2.65. The company has a market capitalization of $38.11 million, a PE ratio of -79.50 and a beta of 0.92. The firm’s 50-day moving average price is $1.31 and its 200-day moving average price is $0.99.

Institutional Investors Weigh In On ClearOne

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in ClearOne by 86.0% in the 2nd quarter. Renaissance Technologies LLC now owns 838,072 shares of the communications equipment provider’s stock worth $694,000 after purchasing an additional 387,412 shares in the last quarter. Marshall Wace LLP bought a new position in shares of ClearOne in the second quarter worth approximately $54,000. State Street Corp purchased a new stake in shares of ClearOne during the second quarter valued at approximately $32,000. Finally, BlackRock Inc. increased its position in shares of ClearOne by 365,044.4% during the second quarter. BlackRock Inc. now owns 32,863 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 32,854 shares in the last quarter. 9.58% of the stock is owned by hedge funds and other institutional investors.

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.