Lake Street Capital Issues Pessimistic Forecast for Clarus (NASDAQ:CLAR) Stock Price

Clarus (NASDAQ:CLAR) had its price objective lowered by analysts at Lake Street Capital from $5.50 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 12.87% from the company’s previous close.

Clarus Trading Up 4.0 %

Shares of CLAR stock opened at $4.43 on Friday. The company has a market cap of $169.94 million, a PE ratio of 34.08 and a beta of 0.82. Clarus has a 12-month low of $3.89 and a 12-month high of $7.55. The business’s fifty day simple moving average is $4.66 and its 200-day simple moving average is $4.53.

Institutional Investors Weigh In On Clarus

Several institutional investors have recently bought and sold shares of CLAR. Proficio Capital Partners LLC acquired a new stake in Clarus in the 3rd quarter worth about $153,000. Empowered Funds LLC lifted its stake in Clarus by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 95,288 shares of the company’s stock worth $429,000 after purchasing an additional 4,824 shares in the last quarter. Quantbot Technologies LP purchased a new position in Clarus in the 3rd quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. purchased a new position in Clarus in the 3rd quarter worth approximately $420,000. Finally, Quadrature Capital Ltd purchased a new position in Clarus in the 3rd quarter worth approximately $100,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

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.