Graham Capital Management L.P. Takes Position in Clearfield, Inc. (NASDAQ:CLFD)

Graham Capital Management L.P. purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,206 shares of the communications equipment provider's stock, valued at approximately $254,000. Graham Capital Management L.P. owned about 0.06% of Clearfield as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings 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 purchasing an additional 54,670 shares in the last quarter. SG Americas Securities LLC raised its holdings in Clearfield by 45.5% in the 4th 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 in the last quarter. Drum Hill Capital LLC bought a new position in Clearfield in the 4th quarter worth $1,539,000. Skylands Capital LLC bought a new position in Clearfield in the 4th quarter worth $645,000. Finally, Raymond James Financial Inc. bought a new position in Clearfield in the 4th quarter worth $721,000. 88.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLFD shares. 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 reiterated a "buy" rating and issued a $50.00 price target on shares of Clearfield in a research note on Wednesday, March 26th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Stock Down 1.5%

Shares of Clearfield stock traded down $0.59 during trading on Friday, hitting $38.30. The company's stock had a trading volume of 135,505 shares, compared to its average volume of 123,330. 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 company has a fifty day simple moving average of $30.68 and a two-hundred day simple moving average of $32.03. The company has a market capitalization of $529.73 million, a PE ratio of -60.79 and a beta of 1.61. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.28. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. The company had revenue of $47.17 million during the quarter, compared to analyst estimates of $38.53 million. Equities research 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.