Free Trial

Point72 Asset Management L.P. Invests $288,000 in Clearfield, Inc. (NASDAQ:CLFD)

Clearfield logo with Computer and Technology background

Point72 Asset Management L.P. bought a new stake 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. The firm bought 9,300 shares of the communications equipment provider's stock, valued at approximately $288,000. Point72 Asset Management L.P. owned 0.07% of Clearfield at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CLFD. Tower Research Capital LLC TRC increased its position 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 shares of Clearfield in the 4th quarter worth approximately $74,000. Quantbot Technologies LP raised its holdings in shares of Clearfield by 261.4% in the 4th 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 in the last quarter. SG Americas Securities LLC raised its holdings in shares of 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. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Clearfield in the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Clearfield Stock Performance

CLFD stock traded up $0.20 during midday trading on Tuesday, hitting $38.50. The company's stock had a trading volume of 108,059 shares, compared to its average volume of 123,268. The stock has a market cap of $532.49 million, a price-to-earnings ratio of -61.11 and a beta of 1.61. The stock's 50-day moving average price is $30.83 and its 200 day moving average price is $32.03. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 1 year low of $23.78 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $47.17 million during the quarter, compared to analysts' expectations of $38.53 million. On average, equities analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on CLFD shares. Wall Street Zen raised shares of Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Clearfield in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.75.

Get Our Latest Research Report on Clearfield

Clearfield Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

Should You Invest $1,000 in Clearfield Right Now?

Before you consider Clearfield, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Clearfield wasn't on the list.

While Clearfield currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings Preview: HUGE Stock Move Ahead
These 5 Small Stocks Could Deliver Huge Returns
ACT FAST! Congress Is POURING Into This Stock

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines