Weiss Ratings Reaffirms Sell (D-) Rating for Clarus (NASDAQ:CLAR)

Key Points

• Weiss Ratings has reaffirmed a Sell (D-) rating for Clarus Corporation (NASDAQ:CLAR), indicating continued negative sentiment towards the stock.
• Lake Street Capital has issued a Hold rating with a price target of $3.50, amidst varied ratings from other analysts including two Buy and one Sell ratings.
• Chairman Warren B. Kanders purchased 200,000 shares at an average price of $3.24, increasing his ownership stake, which might signal confidence in the company's future.

Clarus (NASDAQ:CLAR - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Lake Street Capital reaffirmed a "hold" rating and issued a $3.50 price target on shares of Clarus in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.75.

Clarus Price Performance

Shares of CLAR traded up $0.07 during trading hours on Wednesday, hitting $3.35. 122,987 shares of the stock were exchanged, compared to its average volume of 107,035. Clarus has a fifty-two week low of $3.02 and a fifty-two week high of $5.29. The business has a 50-day moving average of $3.56 and a 200-day moving average of $3.51. The firm has a market capitalization of $128.64 million, a P/E ratio of -1.56 and a beta of 0.93.

Insiders Place Their Bets

In other news, Chairman Warren B. Kanders purchased 200,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $3.24 per share, for a total transaction of $648,000.00. Following the completion of the acquisition, the chairman owned 4,355,326 shares in the company, valued at $14,111,256.24. This trade represents a 4.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLAR. Parthenon LLC boosted its stake in Clarus by 394.2% in the first quarter. Parthenon LLC now owns 330,040 shares of the company's stock valued at $1,238,000 after acquiring an additional 263,260 shares during the last quarter. Strs Ohio purchased a new position in Clarus in the first quarter valued at about $425,000. Nuveen LLC purchased a new position in Clarus in the first quarter valued at about $332,000. Russell Investments Group Ltd. boosted its stake in Clarus by 5.3% in the first quarter. Russell Investments Group Ltd. now owns 1,414,784 shares of the company's stock valued at $5,305,000 after acquiring an additional 71,203 shares during the last quarter. Finally, Greenhouse Funds LLLP boosted its stake in Clarus by 0.9% in the first quarter. Greenhouse Funds LLLP now owns 5,448,431 shares of the company's stock valued at $20,432,000 after acquiring an additional 47,810 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

About Clarus

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.

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