Clearfield, Inc. $CLFD Stock Position Boosted by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Clearfield, Inc. by 214.5% in Q1, holding 30,024 shares worth approximately $892,000 at the quarter's end.
• Brokerage firms have recently downgraded Clearfield's stock ratings, with Northland Capital cutting its rating from "strong-buy" to "hold" and setting a price target of $45.00.
• Clearfield reported earnings of $0.11 per share, which surpassed expectations of $0.05, with a revenue of $49.90 million against a forecast of $47.58 million.

Trexquant Investment LP increased its stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 214.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,024 shares of the communications equipment provider's stock after buying an additional 20,477 shares during the period. Trexquant Investment LP owned about 0.21% of Clearfield worth $892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CLFD. US Bancorp DE increased its stake in shares of Clearfield by 705.0% in the first quarter. US Bancorp DE now owns 966 shares of the communications equipment provider's stock worth $29,000 after buying an additional 846 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Clearfield by 340.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 906 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Clearfield by 2,710.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider's stock valued at $55,000 after purchasing an additional 1,789 shares during the last quarter. GAMMA Investing LLC increased its stake in Clearfield by 5,214.1% during the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock valued at $134,000 after purchasing an additional 4,432 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new stake in Clearfield during the fourth quarter valued at $254,000. Institutional investors own 88.73% of the company's stock.

Clearfield Trading Down 3.6%

Clearfield stock traded down $1.21 during midday trading on Friday, reaching $32.80. 106,074 shares of the stock traded hands, compared to its average volume of 145,220. The firm has a fifty day moving average price of $37.55 and a two-hundred day moving average price of $34.94. The firm has a market cap of $452.97 million, a price-to-earnings ratio of 3,280.00 and a beta of 1.70. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. The firm had revenue of $49.90 million during the quarter, compared to analyst estimates of $47.58 million. Clearfield had a net margin of 0.11% and a return on equity of 0.07%. Analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLFD has been the subject of several recent research reports. Northland Securities lowered shares of Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 target price for the company. in a research note on Thursday, August 7th. Northland Capmk lowered shares of Clearfield from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Roth Capital reiterated a "buy" rating on shares of Clearfield in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

About Clearfield

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.