Clear Secure (NYSE:YOU) Stock Price Down 5.5% – Here’s What Happened

Clear Secure, Inc. (NYSE:YOU)’s stock price fell 5.5% during mid-day trading on Friday . The company traded as low as $22.65 and last traded at $22.65. 787,693 shares changed hands during trading, a decline of 48% from the average session volume of 1,527,731 shares. The stock had previously closed at $23.98.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on YOU. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a research report on Monday, December 16th. Wedbush restated a “neutral” rating and set a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Telsey Advisory Group boosted their price objective on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Clear Secure presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Clear Secure Trading Down 5.7 %

The stock has a 50-day simple moving average of $25.57 and a 200-day simple moving average of $28.45. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 26.28 and a beta of 1.38.

Institutional Trading of Clear Secure

A number of hedge funds and other institutional investors have recently modified their holdings of YOU. SG Americas Securities LLC acquired a new stake in shares of Clear Secure in the third quarter valued at $322,000. CWM LLC lifted its holdings in shares of Clear Secure by 77.0% in the third quarter. CWM LLC now owns 12,836 shares of the company’s stock valued at $425,000 after buying an additional 5,584 shares during the period. NBC Securities Inc. acquired a new stake in shares of Clear Secure in the third quarter valued at $105,000. Everence Capital Management Inc. acquired a new stake in shares of Clear Secure in the third quarter valued at $332,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Clear Secure in the third quarter valued at $2,016,000. Institutional investors own 73.80% of the company’s stock.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.