Millennium Management LLC Invests $765,000 in Clearfield, Inc. (NASDAQ:CLFD)

Millennium Management LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,674 shares of the communications equipment provider's stock, valued at approximately $765,000. Millennium Management LLC owned about 0.17% of Clearfield as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Clearfield by 340.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 906 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Clearfield in the fourth quarter worth $74,000. Quantbot Technologies LP lifted its stake in Clearfield by 261.4% in the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock valued at $151,000 after buying an additional 3,529 shares during the last quarter. SG Americas Securities LLC lifted its stake in Clearfield by 45.5% in the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after buying an additional 1,656 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Clearfield during the fourth quarter valued at $233,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CLFD. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a report on Wednesday, March 26th. Wall Street Zen upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Clearfield Stock Performance

Shares of CLFD traded up $0.29 during trading hours on Tuesday, reaching $39.39. 86,897 shares of the company's stock traded hands, compared to its average volume of 123,857. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $44.83. The business's fifty day simple moving average is $32.36 and its two-hundred day simple moving average is $32.60. 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 firm has a market capitalization of $544.80 million, a price-to-earnings ratio of -62.52 and a beta of 1.69.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.28. The firm had revenue of $47.17 million for the quarter, compared to analysts' expectations of $38.53 million. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. Analysts predict that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Clearfield Company Profile

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.