Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 65.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,356 shares of the communications equipment provider's stock after selling 35,901 shares during the quarter. Bank of America Corp DE owned 0.14% of Clearfield worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CLFD. Barclays PLC grew its stake in Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock worth $3,428,000 after acquiring an additional 54,670 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of 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 purchasing an additional 1,656 shares during the period. Drum Hill Capital LLC bought a new position in Clearfield in the fourth quarter worth approximately $1,539,000. Skylands Capital LLC purchased a new position in Clearfield during the 4th quarter worth $645,000. Finally, Raymond James Financial Inc. bought a new stake in Clearfield during the 4th quarter valued at $721,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Stock Down 3.4%

Clearfield stock traded down $1.33 during mid-day trading on Friday, reaching $38.01. 92,620 shares of the company were exchanged, compared to its average volume of 131,132. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. The firm has a market cap of $525.72 million, a P/E ratio of -60.33 and a beta of 1.69. The business has a fifty day moving average of $33.16 and a 200 day moving average of $32.76. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $44.83.

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 for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. The company had revenue of $47.17 million for the quarter, compared to the consensus estimate of $38.53 million. Research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a "buy" rating and set a $50.00 price target 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

Clearfield 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.