Clear Secure (NYSE:YOU) Trading Down 5.5% - Here's Why

Clear Secure, Inc. (NYSE:YOU - Get Free Report)'s share price was down 5.5% on Friday . The stock traded as low as $22.65 and last traded at $22.65. Approximately 787,693 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,527,731 shares. The stock had previously closed at $23.98.

Wall Street Analysts Forecast Growth

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

Clear Secure Price Performance

The company has a 50 day simple moving average of $25.47 and a 200-day simple moving average of $28.52. The stock has a market cap of $3.20 billion, a P/E ratio of 26.70 and a beta of 1.38.

Institutional Trading of Clear Secure

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Clear Secure during the third quarter worth approximately $26,000. GAMMA Investing LLC raised its position in Clear Secure by 221.6% in the 4th quarter. GAMMA Investing LLC now owns 1,119 shares of the company's stock worth $30,000 after purchasing an additional 771 shares during the period. Huntington National Bank purchased a new position in Clear Secure in the 4th quarter worth $35,000. SRS Capital Advisors Inc. lifted its stake in Clear Secure by 56.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,132 shares of the company's stock worth $57,000 after purchasing an additional 766 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its position in Clear Secure by 113,800.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company's stock valued at $61,000 after buying an additional 2,276 shares during the period. Institutional investors own 73.80% of the company's stock.

Clear Secure Company Profile

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.