STOCKS TELEGRAPH

Tag: NASDAQ: CLRO

  • Two Reasons Why ClearOne Inc [CLRO] is a Perfect Buy at Current Prices

    Two Reasons Why ClearOne Inc [CLRO] is a Perfect Buy at Current Prices

    ClearOne Inc [NASDAQ:CLRO] has over the last few days 0recovered most of the losses from late August and the better part September. From a technical analysis perspective, the stock is at a price level where it can go in any direction. Ideally, the best entry point for this stock would be any price level above $3.

    However, looking at it from a fundamentals perspective, its current price makes for a good entry price as well and has the potential for more gains.  There are a number of factors that likely to drive up bullish sentiment in this stock in the near-term. Some of them are as below:

    Insider buying

    One of the biggest buy signals in the stock markets is insider buying. It usually points to a situation whereby people who have a close relationship with a company have faith in its growth prospects.  A few days ago, ClearOne Inc announced that it had agreed with a group of institutional and accredited investors, Edward Bagley (It’s the largest shareholder), and its CEO Zeynep Hakimoglu for the purchase of 2,116,050 units of common stock at a price of $2.4925 per share.

    In most cases, insider participation leads to an increase in stock as the fundamentals behind such a move start to unveil. In the case of ClearOne, it makes the stock’s current price a perfect entry point, for investors with both short-term and long-term projections for the stock.

    It is also noteworthy that the company intends to use the proceeds of the sale to bolster its working capital. This means that in the near-term, the company is well-positioned to carry out its operations without the risk of running out of money. This is a critical factor that could see it gain in value going into the foreseeable future.

    A patent win

    Back in August, the company announced that the patent trial and appeal board of the U.S and the Trade Mark Office had ruled in its favor in a case against Shure. The company announced that the ruling significantly limited Shure’s 493 patent touching on beamforming microphone arrays.

    This is a technology that was pioneered by ClearOne. The company stated that it believed its products do not infringe on Shure’s patent claims. This win is a big deal and is likely to have a significant impact on the company’s revenues in the long run, and by extension, its stock value.  This further adds weight to this stock’s potential in the long run.

    About ClearOne Inc

    ClearOne Inc designs, makes, and sells networking solutions. It is based in Salt Lake City, Utah.

  • Market Sentiment Mixed but there are Winners

    Market Sentiment Mixed but there are Winners

    The markets are headed to a mixed start to the week. The S&P 500 and the Dow are both in the red with the NASDAQ up marginally. The subdued sentiment is a reflection of activity in the European markets. Stocks in Europe are in the red as data shows a resurgence in COVID-19 cases. Essentially, this means that the world, including the U.S, is yet to fully control the pandemic.

    For the markets, this means a prolonged period of uncertainty and economic weakness. The Federal Reserve has already announced that it was projecting that the COVID-19 would continue to have a negative impact on the economy in the foreseeable future. Investors are looking to a future where subdued economic activity could potentially lead to a correction.

    Nonetheless, the U.S economy continues to show resilience. Even without an economic stimulus package from the government, the U.S economy continues to show signs of recovery in September.  This is an indicator that the underlying fundamentals are strong and that a new stimulus package or a COVIDD-19 vaccine could reignite the economy.

    In this environment of cautious optimism, there are stocks that are outperforming the market by a huge margin. In today’s session, some of the stocks showing signs of a major upside when markets open are as below:

    Immutep Limited [NASDAQ: IMMP]

    Immutep Limited is one of the top performers this morning and is up by close to 20%. This follows the company’s announcement of an improvement in results from stage 1 of its phase 2 TACTI-002 study. The company’s CMO Dr Fredric Triebel stated that by combining efti and pembrolizumab had shown good progress in people with HNSCC and NSCLC. The progress also attracted positive comments from external players. Commenting on it, principal investigator Dr Martin Forster of the University College London Hospital stated the results they received were encouraging.

    ClearOne Inc [NASDAQ: CLRO]

    This is another top performer this morning and is up by over 10%. This comes days after the company announced that it had priced $5.3 million direct offerings as per NASDAQ rule. The company announced that it would use money from the placement as working capital and other corporate purposes.

    Pivotal Investment Corporation II [NYSE: PIC]

    Pivotal Investment Corporation is another top performer this morning and is up by over 20% pre-market. This follows the company’s announcement that it was merging with XL Fleet, a commercial vehicle electrification company for listing on the NYSE. It is an interesting merger given XL’s growing demand and growing revenues.