Point72 Asset Management L.P. Takes Position in Clearfield, Inc. (NASDAQ:CLFD)

Point72 Asset Management L.P. purchased a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CLFD. Barclays PLC increased its holdings in shares of Clearfield by 164.2% in the third 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 position in shares of Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after buying an additional 1,656 shares during the period. Drum Hill Capital LLC acquired a new position in shares of Clearfield during the fourth quarter worth about $1,539,000. Skylands Capital LLC acquired a new position in shares of Clearfield during the fourth quarter worth about $645,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Clearfield during the fourth quarter worth about $721,000. 88.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLFD. Wall Street Zen raised Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Clearfield in a research report on Wednesday, March 26th. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Stock Down 1.2%

NASDAQ CLFD traded down $0.44 during trading hours on Thursday, hitting $37.29. 31,274 shares of the company traded hands, compared to its average volume of 122,774. The business's 50-day moving average is $31.10 and its 200-day moving average is $32.11. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $44.83. 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 stock has a market capitalization of $515.69 million, a price-to-earnings ratio of -59.18 and a beta of 1.61.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating 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 firm had revenue of $47.17 million during the quarter, compared to analysts' expectations of $38.53 million. Sell-side analysts anticipate 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.