Clearfield, Inc. (NASDAQ:CLFD - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.70 and traded as high as $43.80. Clearfield shares last traded at $43.30, with a volume of 184,057 shares trading hands.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of Clearfield from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $46.75.
Check Out Our Latest Analysis on CLFD
Clearfield Stock Up 0.7%
The company's 50 day moving average price is $40.82 and its 200-day moving average price is $35.04. The stock has a market cap of $612.81 million, a P/E ratio of -316.50 and a beta of 1.71.
Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) 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 firm had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. Equities research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current year.
Institutional Investors Weigh In On Clearfield
Several hedge funds and other institutional investors have recently bought and sold shares of CLFD. Select Equity Group L.P. increased its position in Clearfield by 770.2% in the 1st quarter. Select Equity Group L.P. now owns 176,304 shares of the communications equipment provider's stock valued at $5,240,000 after buying an additional 156,044 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Clearfield in the 4th quarter valued at about $1,594,000. Dimensional Fund Advisors LP increased its position in Clearfield by 17.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock valued at $9,994,000 after buying an additional 48,730 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Clearfield in the 4th quarter valued at about $1,311,000. Finally, Nuveen LLC bought a new stake in Clearfield in the 1st quarter valued at about $1,016,000. 88.73% of the stock is owned by institutional investors.
About Clearfield
(
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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.
Further Reading
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