Clearfield (NASDAQ:CLFD) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Clearfield's stock has crossed above its 200-day moving average, indicating bullish momentum, with shares trading as high as $43.13 before settling at $40.81.
• Wall Street analysts have raised Clearfield's rating from a "hold" to a "buy", with a consensus target price of $46.75, reflecting strong market interest.
• Hedge funds are actively participating in Clearfield's stock, with Select Equity Group increasing its stake by 770.2% and over 88% of shares held by institutional investors.

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.33 and traded as high as $43.13. Clearfield shares last traded at $40.81, with a volume of 288,259 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Clearfield from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Clearfield Stock Up 0.1%

The company's fifty day moving average is $41.43 and its two-hundred day moving average is $35.34. The stock has a market cap of $607.69 million, a price-to-earnings ratio of -313.86 and a beta of 1.63.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.28. Clearfield had a negative net margin of 1.04% and a negative return on equity of 0.68%. The company had revenue of $47.17 million for the quarter, compared to analyst estimates of $38.53 million. Sell-side analysts predict that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearfield

Several large investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. increased its holdings in shares of Clearfield by 770.2% during the first quarter. Select Equity Group L.P. now owns 176,304 shares of the communications equipment provider's stock valued at $5,240,000 after purchasing an additional 156,044 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Clearfield during the 4th quarter worth about $1,594,000. Dimensional Fund Advisors LP boosted its position in Clearfield by 17.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock worth $9,994,000 after acquiring an additional 48,730 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Clearfield during the 4th quarter valued at about $1,311,000. Finally, Nuveen LLC bought a new position in shares of Clearfield in the 1st quarter valued at approximately $1,016,000. 88.73% of the stock is currently owned by institutional investors.

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.