Clarus (NASDAQ:CLAR) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clarus in a research report on Monday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.75.

Clarus Price Performance

Clarus stock opened at $3.51 on Friday. The stock has a market cap of $134.78 million, a price-to-earnings ratio of -1.66 and a beta of 1.09. The firm has a 50-day moving average of $3.41 and a two-hundred day moving average of $3.50. Clarus has a 1 year low of $3.02 and a 1 year high of $5.29.

Clarus (NASDAQ:CLAR) last posted its quarterly 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). The company had revenue of $69.35 million for the quarter, compared to the consensus estimate of $66.43 million. Clarus had a negative net margin of 31.52% and a negative return on equity of 4.30%. Research analysts expect that Clarus will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Clarus

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

Clarus Company Profile

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.