Clearfield (NASDAQ:CLFD) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Clearfield, Inc. stock price fell below its 200-day moving average of $34.98, trading as low as $32.08 on Monday, indicating potential concerns among investors.
• Analysts have recently downgraded Clearfield's stock rating with a consensus price target of $47.50, while two analysts maintain a "buy" rating and two others have issued a "hold" rating.
• Institutional investors have significantly increased their holdings in Clearfield, with US Bancorp DE growing its stake by 705% during the first quarter of the year.

Shares of Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $34.98 and traded as low as $32.08. Clearfield shares last traded at $33.05, with a volume of 190,262 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on CLFD shares. Northland Securities downgraded shares of Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 target price for the company. in a research note on Thursday, August 7th. Roth Capital reissued a "buy" rating on shares of Clearfield in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Northland Capmk downgraded shares of Clearfield from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Clearfield Stock Performance

The company has a market cap of $456.42 million, a PE ratio of 3,305.00 and a beta of 1.70. The firm has a fifty day simple moving average of $37.33 and a 200 day simple moving average of $34.98.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $49.90 million during the quarter, compared to analysts' expectations of $47.58 million. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. As a group, equities analysts predict that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Trading of Clearfield

Institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Clearfield by 705.0% during the 1st quarter. US Bancorp DE now owns 966 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 846 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Clearfield by 2,710.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider's stock worth $55,000 after purchasing an additional 1,789 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Clearfield by 116.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,882 shares of the communications equipment provider's stock worth $82,000 after purchasing an additional 1,012 shares during the period. Strs Ohio purchased a new stake in shares of Clearfield during the 1st quarter worth about $131,000. Finally, GAMMA Investing LLC grew its holdings in shares of Clearfield by 5,214.1% during the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock worth $134,000 after purchasing an additional 4,432 shares during the period. Hedge funds and other institutional investors own 88.73% of the company's stock.

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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