ClearOne Incoprorated (CLRO) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of ClearOne Incoprorated (NASDAQ:CLRO) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “ClearOne, Inc. operates as a provider of audio visual communications. The Company design, develop and sell conferencing, collaboration, streaming and digital signage solutions for audio, video and data multimedia communication. Its product include video conferencing, professional audio, unified communication, digital signage, microphones, enterprise streaming, residential streaming and media carts. ClearOne, Inc., formerly known as ClearOne Communications, Inc., is based in Salt Lake City, Utah. “

Other research analysts also recently issued research reports about the company. TheStreet downgraded ClearOne Incoprorated from a c- rating to a d+ rating in a research note on Friday, November 10th. ValuEngine raised ClearOne Incoprorated from a sell rating to a hold rating in a research note on Friday, December 1st. Finally, B. Riley reissued a buy rating and issued a $8.50 price target on shares of ClearOne Incoprorated in a research note on Thursday, November 9th.

ClearOne Incoprorated (CLRO) traded down $0.25 during mid-day trading on Monday, hitting $8.65. The stock had a trading volume of 3,051 shares, compared to its average volume of 2,689. The firm has a market cap of $72.78, a P/E ratio of -6.36 and a beta of 1.31. ClearOne Incoprorated has a one year low of $6.70 and a one year high of $12.60.

In other news, Director Larry Hendricks sold 3,235 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $9.19, for a total value of $29,729.65. Following the transaction, the director now owns 17,448 shares of the company’s stock, valued at approximately $160,347.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Edward D. Bagley purchased 300,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $7.00 per share, for a total transaction of $2,100,000.00. Following the purchase, the insider now owns 2,334,407 shares in the company, valued at $16,340,849. The disclosure for this purchase can be found here. In the last three months, insiders bought 345,466 shares of company stock worth $2,408,716. 9.45% of the stock is currently owned by company insiders.

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About ClearOne Incoprorated

ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.

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