ClearOne, Inc. (NASDAQ:CLRO) Short Interest Up 204.8% in June

ClearOne, Inc. (NASDAQ:CLRO) was the recipient of a significant growth in short interest in 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. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 221,500 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On ClearOne

A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT raised its holdings in ClearOne, Inc. (NASDAQ:CLRO) by 5,150.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 210,000 shares of the communications equipment provider’s stock after purchasing an additional 206,000 shares during the quarter. Albion Financial Group UT owned 0.88% of ClearOne worth $384,000 at the end of the most recent reporting period. 9.58% of the stock is owned by institutional investors.

ClearOne Price Performance

Shares of CLRO stock traded down $0.03 during mid-day trading on Friday, hitting $0.65. 62,725 shares of the stock traded hands, compared to its average volume of 1,457,241. ClearOne has a 52-week low of $0.63 and a 52-week high of $2.48. The stock has a market cap of $15.58 million, a P/E ratio of -9.29 and a beta of 0.84. The stock’s fifty day moving average is $0.82 and its two-hundred day moving average is $1.04.

ClearOne (NASDAQ:CLRO) last announced its earnings results 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 for the quarter.

Analyst Upgrades and Downgrades

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

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.