Clearfield (NASDAQ:CLFD) Stock Price Down 5.7% – What’s Next?

Clearfield, Inc. (NASDAQ:CLFD) traded down 5.7% during trading on Thursday . The stock traded as low as $35.04 and last traded at $35.63. 203,796 shares changed hands during trading, an increase of 92% from the average session volume of 105,943 shares. The stock had previously closed at $37.80.

Analyst Ratings Changes

A number of brokerages recently weighed in on CLFD. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a report on Thursday, January 16th. StockNews.com cut Clearfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Price Performance

The firm’s fifty day moving average price is $33.39 and its 200 day moving average price is $36.11. The firm has a market capitalization of $490.88 million, a PE ratio of -40.87 and a beta of 1.27. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. The business had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. As a group, equities analysts forecast that Clearfield, Inc. will post -0.16 earnings per share for the current year.

Insider Transactions at Clearfield

In other Clearfield news, Chairman Ronald G. Roth acquired 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was bought at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the acquisition, the chairman now owns 1,266,796 shares in the company, valued at approximately $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Clearfield

Several hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Clearfield during the third quarter worth $53,000. Truvestments Capital LLC acquired a new position in Clearfield during the 3rd quarter worth approximately $80,000. SG Americas Securities LLC increased its holdings in Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 279 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Clearfield during the second quarter worth approximately $217,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Clearfield in the 3rd quarter valued at $300,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

About Clearfield

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.