Clearfield (NASDAQ:CLFD) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Shares of Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.98 and traded as high as $40.05. Clearfield shares last traded at $39.75, with a volume of 91,319 shares.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Clearfield in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.75.

Clearfield Stock Up 3.6%

The stock's 50-day moving average price is $34.16 and its 200-day moving average price is $32.98. The company has a market capitalization of $549.74 million, a price-to-earnings ratio of -283.93 and a beta of 1.69.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating 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 business had revenue of $47.17 million for the quarter, compared to analyst estimates of $38.53 million. On average, equities research analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Clearfield

Several large investors have recently bought and sold shares of CLFD. Vanguard Group Inc. increased its stake in Clearfield by 0.8% in the first quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider's stock valued at $28,295,000 after purchasing an additional 7,919 shares in the last quarter. ACK Asset Management LLC increased its stake in Clearfield by 3.6% in the fourth quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock valued at $22,320,000 after purchasing an additional 25,000 shares in the last quarter. Royce & Associates LP increased its stake in Clearfield by 1.3% in the first quarter. Royce & Associates LP now owns 485,009 shares of the communications equipment provider's stock valued at $14,414,000 after purchasing an additional 6,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Clearfield by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock valued at $9,994,000 after purchasing an additional 48,730 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Clearfield by 6.2% in the first quarter. Royal Bank of Canada now owns 269,865 shares of the communications equipment provider's stock valued at $8,020,000 after purchasing an additional 15,659 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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