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

Key Points

• Weiss Ratings has reaffirmed its "Sell (D-)" rating for Clarus (NASDAQ:CLAR), indicating continued concerns regarding the stock's performance.
• Clarus has a consensus rating of "Hold" from analysts, with an average target price of $4.75, reflecting mixed sentiments in the market.
• Chairman Warren B. Kanders increased his stake in Clarus by acquiring 89,000 shares at an average price of $3.23 per share, underscoring insider confidence amid the cautious outlook.

Clarus (NASDAQ:CLAR - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Separately, Lake Street Capital restated a "hold" rating and set a $3.50 price objective on shares of Clarus in a research note on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Clarus presently has a consensus rating of "Hold" and an average target price of $4.75.

Clarus Price Performance

CLAR stock traded up $0.11 during midday trading on Friday, hitting $3.50. The company's stock had a trading volume of 144,329 shares, compared to its average volume of 154,519. The stock has a market capitalization of $134.40 million, a P/E ratio of -1.63 and a beta of 0.93. The company's fifty day moving average price is $3.56 and its 200 day moving average price is $3.48. Clarus has a twelve month low of $3.02 and a twelve month high of $5.29.

Insider Activity at Clarus

In other Clarus news, Chairman Warren B. Kanders acquired 89,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $3.23 per share, with a total value of $287,470.00. Following the acquisition, the chairman directly owned 4,444,326 shares of the company's stock, valued at approximately $14,355,172.98. This trade represents a 2.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.30% of the company's stock.

Institutional Trading of Clarus

Institutional investors have recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Clarus during the 1st quarter worth approximately $332,000. Strs Ohio bought a new stake in shares of Clarus during the 1st quarter worth approximately $425,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clarus by 29.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the company's stock worth $351,000 after acquiring an additional 21,508 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Clarus by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company's stock worth $620,000 after acquiring an additional 10,873 shares during the period. Finally, Parthenon LLC lifted its holdings in shares of Clarus by 32.8% during the 2nd quarter. Parthenon LLC now owns 438,137 shares of the company's stock worth $1,520,000 after acquiring an additional 108,097 shares during the period. Institutional investors own 90.30% of the company's stock.

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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