Clarus Co. (NASDAQ:CLAR) Sees Significant Drop in Short Interest

Clarus Co. (NASDAQ:CLAR) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,510,000 shares, a drop of 7.9% from the July 31st total of 1,640,000 shares. Based on an average daily volume of 230,100 shares, the days-to-cover ratio is currently 6.6 days. Approximately 5.2% of the company’s shares are short sold.

Clarus Trading Down 4.9 %

Shares of NASDAQ CLAR traded down $0.21 during mid-day trading on Tuesday, reaching $4.10. 301,886 shares of the company’s stock were exchanged, compared to its average volume of 271,443. The business has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $6.11. Clarus has a twelve month low of $4.09 and a twelve month high of $7.65. The firm has a market capitalization of $157.02 million, a price-to-earnings ratio of 16.00 and a beta of 0.89.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.06) earnings per share for the quarter. Clarus had a net margin of 2.23% and a negative return on equity of 0.75%. The company had revenue of $56.48 million during the quarter, compared to the consensus estimate of $59.28 million. During the same period in the previous year, the firm posted $0.07 EPS. Equities research analysts predict that Clarus will post 0.02 earnings per share for the current fiscal year.

Clarus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, August 9th. Clarus’s dividend payout ratio is 38.46%.

Analysts Set New Price Targets

CLAR has been the subject of a number of analyst reports. Roth Mkm lowered shares of Clarus from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $7.50 to $6.00 in a report on Friday, August 2nd. B. Riley dropped their price objective on Clarus from $9.00 to $7.00 and set a “buy” rating for the company in a report on Monday, August 5th. StockNews.com cut Clarus from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, Roth Capital cut Clarus from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Clarus currently has a consensus rating of “Hold” and an average target price of $8.25.

Institutional Trading of Clarus

A number of institutional investors have recently modified their holdings of CLAR. Legacy Capital Group California Inc. acquired a new stake in Clarus in the 2nd quarter valued at approximately $72,000. EntryPoint Capital LLC bought a new stake in shares of Clarus in the first quarter worth $83,000. BNP Paribas Financial Markets grew its position in Clarus by 71.5% in the first quarter. BNP Paribas Financial Markets now owns 14,908 shares of the company’s stock valued at $101,000 after purchasing an additional 6,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Clarus by 30.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,530 shares of the company’s stock valued at $105,000 after purchasing an additional 3,658 shares in the last quarter. Finally, Olympiad Research LP increased its stake in Clarus by 54.4% in the 4th quarter. Olympiad Research LP now owns 19,580 shares of the company’s stock valued at $135,000 after buying an additional 6,898 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors.

Clarus Company Profile

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.