Clarus (CLAR) has seen December $22.5 call open interest swell to 12,800 from consistent buyer accumulation, unusual action in the small cap that has long screened as a quality name. CLAR focuses on outdoor equipment and lifestyle products focusing on the climb, ski, mountain, sport, and skincare markets. The company has two business segments, Black Diamond and Sierra, the former focuses on activity-based apparel, such as shells, insulation, midlayers, pants, and logowear and mountain climbing equipment. Sierra manufactures bullets and ammunition products for rifles and pistols which are used for precision target shooting and hunting. CLAR has been consistently growing through acquisitions and likely looks at further deals in 2022 to build out their market potential. The firm sees the global outdoor apparel market at $19.5B and growing 6.3% CAGR while Hunting is a $13B market growing at 6.6% CAGR.

CLAR has a market cap of $735M and trades just 12X Earnings. On the chart shares are in a falling wedge pattern showing a notable bullish RSI divergence. BAML started shares at Buy in December with a $35 target.