Clarus Corporation (NASDAQ:CLAR) Short Interest Update

Key Points

• Short interest in Clarus dropped sharply in June, falling 46% to 756,098 shares as of June 30 from 1.40 million shares two weeks earlier. That leaves about 2.6% of the float sold short, with a short-interest ratio of 1.1 days.
• Wall Street sentiment remains mixed but cautious, with one Buy, three Hold, and one Sell rating. The consensus rating is Hold, and the average target price is $3.63.
• The stock is trading near the lower end of its range, opening at $3.26 with a 1-year low of $2.53 and high of $4.03. Clarus also recently paid a quarterly dividend of $0.025 per share, implying a 3.1% annualized yield.

Clarus Corporation (NASDAQ:CLAR - Get Free Report) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 756,098 shares, a drop of 46.0% from the June 15th total of 1,401,307 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average trading volume of 672,339 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

CLAR has been the subject of a number of research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clarus in a research note on Wednesday, June 3rd. Zacks Research downgraded Clarus from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Roth Capital set a $2.90 price objective on Clarus in a report on Wednesday, May 13th. Stifel Nicolaus set a $5.00 target price on Clarus in a research note on Thursday, April 16th. Finally, Wall Street Zen raised Clarus from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $3.63.

Clarus Stock Performance

Shares of NASDAQ:CLAR opened at $3.26 on Wednesday. The stock has a market capitalization of $125.31 million, a price-to-earnings ratio of -2.81 and a beta of 1.07. Clarus has a 1-year low of $2.53 and a 1-year high of $4.03. The company has a 50 day moving average price of $3.03 and a 200 day moving average price of $3.11.

Clarus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.1%. Clarus's payout ratio is -8.62%.

Hedge Funds Weigh In On Clarus

A number of hedge funds and other institutional investors have recently modified their holdings of CLAR. Abel Hall LLC acquired a new stake in Clarus during the 4th quarter worth about $39,000. Verition Fund Management LLC acquired a new position in shares of Clarus in the third quarter worth about $50,000. Quadrature Capital Ltd purchased a new position in shares of Clarus in the fourth quarter worth approximately $56,000. Virtu Financial LLC acquired a new stake in shares of Clarus during the fourth quarter valued at approximately $62,000. Finally, Millennium Management LLC purchased a new stake in shares of Clarus in the 4th quarter valued at approximately $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.

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