Clearfield (NASDAQ:CLFD) Share Price Passes Above 200-Day Moving Average of $35.40

Clearfield, Inc. (NASDAQ:CLFD)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $35.40 and traded as high as $38.18. Clearfield shares last traded at $37.89, with a volume of 92,189 shares traded.

Wall Street Analyst Weigh In

CLFD has been the topic of a number of analyst reports. Roth Mkm lowered their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC increased their target price on shares of Clearfield from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. StockNews.com raised shares of Clearfield to a “sell” rating in a report on Monday, August 5th. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Finally, Northland Securities lifted their target price on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Clearfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Clearfield Stock Up 1.9 %

The stock has a market cap of $544.41 million, a P/E ratio of -153.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. The firm’s 50-day moving average is $38.87 and its two-hundred day moving average is $35.44.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.30. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The business had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. During the same quarter last year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was down 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Clearfield, Inc. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Walter Louis Jones, Jr. purchased 1,324 shares of Clearfield stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $37.77 per share, for a total transaction of $50,007.48. Following the transaction, the director now directly owns 6,061 shares of the company’s stock, valued at $228,923.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bard Associates Inc. boosted its position in shares of Clearfield by 3.5% during the fourth quarter. Bard Associates Inc. now owns 11,684 shares of the communications equipment provider’s stock worth $340,000 after purchasing an additional 393 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Clearfield by 2.7% in the second quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock valued at $598,000 after acquiring an additional 405 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Clearfield by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after acquiring an additional 510 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Clearfield by 2.3% in the first quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock worth $1,047,000 after acquiring an additional 777 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Clearfield during the fourth quarter worth about $25,000. Institutional investors own 88.73% of the company’s stock.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.