Hsbc Holdings PLC Buys Shares of 22,505 Clearfield, Inc. (NASDAQ:CLFD)

Hsbc Holdings PLC bought a new position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,505 shares of the communications equipment provider's stock, valued at approximately $703,000. Hsbc Holdings PLC owned 0.16% of Clearfield as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Clearfield by 2.5% during the fourth quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider's stock valued at $470,000 after purchasing an additional 366 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Clearfield by 340.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock valued at $36,000 after buying an additional 906 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Clearfield by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock worth $239,000 after acquiring an additional 1,544 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Clearfield by 45.5% in the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of Clearfield by 26.5% during the fourth quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider's stock valued at $296,000 after acquiring an additional 1,997 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLFD. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

Insider Transactions at Clearfield

In related news, COO John P. Hill sold 16,539 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total value of $550,087.14. Following the completion of the transaction, the chief operating officer now owns 189,886 shares in the company, valued at $6,315,608.36. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.80% of the stock is owned by company insiders.

Clearfield Price Performance

Shares of Clearfield stock traded up $2.49 during trading on Friday, hitting $34.31. 315,259 shares of the company's stock traded hands, compared to its average volume of 121,482. The company has a market cap of $484.87 million, a PE ratio of -54.46 and a beta of 1.61. The firm's fifty day moving average price is $28.82 and its 200 day moving average price is $31.96. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The company had revenue of $47.17 million during the quarter, compared to analysts' expectations of $38.53 million. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Analysts forecast that Clearfield, Inc. will post -0.29 earnings per share for the current year.

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.