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 disclosure with the SEC. The firm bought 9,300 shares of the communications equipment provider's stock, valued at approximately $288,000. Point72 Asset Management L.P. owned approximately 0.07% of Clearfield as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Invesco Ltd. increased its position in Clearfield by 2.5% during the 4th quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider's stock worth $470,000 after purchasing an additional 366 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Clearfield by 340.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 906 shares in the last quarter. Occudo Quantitative Strategies LP boosted its holdings in shares of Clearfield by 13.7% during the 4th quarter. Occudo Quantitative Strategies LP now owns 10,421 shares of the communications equipment provider's stock valued at $323,000 after acquiring an additional 1,254 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Clearfield by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock valued at $239,000 after acquiring an additional 1,544 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company's stock.

Clearfield Trading Down 1.9%

NASDAQ:CLFD traded down $0.73 during trading hours on Wednesday, hitting $37.77. 70,948 shares of the company were exchanged, compared to its average volume of 130,054. The stock has a market capitalization of $522.40 million, a price-to-earnings ratio of -60.20 and a beta of 1.61. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a one year low of $23.78 and a one year high of $44.83. The company has a fifty day simple moving average of $30.97 and a 200 day simple moving average of $32.07.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its 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 return on equity of 3.31% and a negative net margin of 5.41%. The business had revenue of $47.17 million during the quarter, compared to analyst estimates of $38.53 million. Sell-side analysts expect that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Clearfield in a report on Wednesday, March 26th. Wall Street Zen raised Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.