Clarus (NASDAQ:CLAR) Rating Lowered to Sell at Wall Street Zen

Clarus (NASDAQ:CLAR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other research analysts have also recently commented on CLAR. Lake Street Capital restated a “hold” rating and set a $3.50 price objective on shares of Clarus in a research note on Friday, August 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Clarus in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.75.

Clarus Stock Up 0.9%

CLAR opened at $3.39 on Tuesday. Clarus has a 52-week low of $3.02 and a 52-week high of $5.29. The company has a 50 day moving average of $3.44 and a two-hundred day moving average of $3.48. The company has a market cap of $130.18 million, a P/E ratio of -1.61 and a beta of 0.97.

Clarus (NASDAQ:CLAR) last posted its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Clarus had a negative net margin of 31.52% and a negative return on equity of 4.30%. The business had revenue of $69.35 million for the quarter, compared to analyst estimates of $66.43 million. Research analysts anticipate that Clarus will post -0.06 earnings per share for the current year.

Institutional Trading of Clarus

A number of hedge funds and other institutional investors have recently made changes to their positions in CLAR. Nisa Investment Advisors LLC raised its holdings in Clarus by 7,774.1% in the second quarter. Nisa Investment Advisors LLC now owns 8,819 shares of the company’s stock valued at $31,000 after acquiring an additional 8,707 shares in the last quarter. Abel Hall LLC bought a new stake in shares of Clarus in the 2nd quarter worth about $37,000. Quadrature Capital Ltd acquired a new stake in shares of Clarus in the 2nd quarter valued at about $39,000. Verition Fund Management LLC bought a new position in shares of Clarus during the third quarter worth about $50,000. Finally, PNC Financial Services Group Inc. grew its stake in Clarus by 19.6% in the second quarter. PNC Financial Services Group Inc. now owns 23,415 shares of the company’s stock worth $81,000 after purchasing an additional 3,845 shares in the last quarter. Institutional investors own 90.30% of the company’s stock.

About Clarus

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.