Clarus (NASDAQ:CLAR) Downgraded by Zacks Research to Hold

Clarus (NASDAQ:CLAR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

CLAR has been the subject of a number of other reports. Roth Mkm set a $2.90 target price on shares of Clarus in a research note on Wednesday, May 13th. Lake Street Capital dropped their price target on shares of Clarus from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. Stifel Nicolaus set a $5.00 price target on shares of Clarus in a report on Thursday, April 16th. Finally, Wall Street Zen raised shares of Clarus from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.63.

Clarus Price Performance

Shares of CLAR stock opened at $3.11 on Wednesday. Clarus has a fifty-two week low of $2.53 and a fifty-two week high of $4.03. The stock’s 50-day moving average is $2.78 and its two-hundred day moving average is $3.19. The firm has a market cap of $119.55 million, a P/E ratio of -2.68 and a beta of 1.02.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $65.41 million during the quarter, compared to analyst estimates of $68.67 million. Clarus had a negative return on equity of 0.11% and a negative net margin of 17.70%.

Hedge Funds Weigh In On Clarus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Abel Hall LLC acquired a new stake in shares of Clarus in the fourth quarter worth $39,000. Verition Fund Management LLC acquired a new position in Clarus in the 3rd quarter valued at $50,000. Quadrature Capital Ltd acquired a new position in Clarus in the 4th quarter valued at $56,000. Virtu Financial LLC bought a new position in Clarus in the 4th quarter worth $62,000. Finally, Millennium Management LLC acquired a new position in Clarus during the 4th quarter worth $70,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.