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

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.

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.