24,674 Shares in Clearfield, Inc. (NASDAQ:CLFD) Bought by Millennium Management LLC

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

A number of other large investors have also bought and sold shares of CLFD. Tower Research Capital LLC TRC grew its holdings in Clearfield by 340.6% in the fourth 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 period. KLP Kapitalforvaltning AS acquired a new stake in Clearfield in the fourth quarter worth $74,000. Quantbot Technologies LP grew its holdings in Clearfield by 261.4% in the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock worth $151,000 after purchasing an additional 3,529 shares during the period. SG Americas Securities LLC grew its holdings 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 worth $164,000 after purchasing an additional 1,656 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Clearfield in the fourth quarter worth $233,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Clearfield Stock Up 0.5%

Shares of NASDAQ CLFD opened at $39.03 on Friday. The stock has a market capitalization of $539.82 million, a P/E ratio of -61.95 and a beta of 1.69. The company has a 50-day moving average price of $32.17 and a 200-day moving average price of $32.50. Clearfield, Inc. has a 1 year low of $23.78 and a 1 year high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The firm had revenue of $47.17 million during 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%. On average, equities research analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current fiscal 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.

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