Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,654 shares of the communications equipment provider's stock after selling 11,881 shares during the period. Federated Hermes Inc. owned 1.17% of Clearfield worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its holdings 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 valued at $239,000 after purchasing an additional 1,544 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Clearfield in the fourth quarter worth about $585,000. Trexquant Investment LP increased its holdings in Clearfield by 26.5% in the fourth quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider's stock valued at $296,000 after buying an additional 1,997 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Clearfield by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider's stock worth $1,372,000 after acquiring an additional 3,174 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Clearfield in the 4th quarter valued at about $74,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CLFD shares. StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a research report 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Insider Transactions at Clearfield

In other news, COO John P. Hill sold 16,539 shares of Clearfield stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.80% of the company's stock.

Clearfield Trading Up 0.2 %

Shares of NASDAQ:CLFD traded up $0.06 during midday trading on Thursday, reaching $26.55. 18,565 shares of the company's stock were exchanged, compared to its average volume of 128,563. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. The stock has a market cap of $375.20 million, a price-to-earnings ratio of -42.44 and a beta of 1.51. The firm's 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $32.87. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. As a group, sell-side analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

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.