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

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

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT increased its position in ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the communications equipment provider’s stock after acquiring 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 quarter. Institutional investors own 9.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ClearOne Price Performance

Shares of NASDAQ:CLRO traded down $0.03 during trading 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. The company has a 50-day moving average of $0.82 and a 200-day moving average of $1.04. ClearOne has a 12 month low of $0.63 and a 12 month high of $2.48. The firm has a market cap of $15.58 million, a price-to-earnings ratio of -9.29 and a beta of 0.84.

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

About ClearOne

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.