Trexquant Investment LP Increases Stock Position in Clearfield, Inc. $CLFD

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 raised its position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 214.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,024 shares of the communications equipment provider's stock after purchasing an additional 20,477 shares during the quarter. Trexquant Investment LP owned 0.21% of Clearfield worth $892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Clearfield by 17.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock valued at $9,994,000 after buying an additional 48,730 shares during the period. Nuveen LLC purchased a new stake in Clearfield during the first quarter worth about $1,016,000. Squarepoint Ops LLC purchased a new position in shares of Clearfield in the fourth quarter valued at approximately $795,000. Millennium Management LLC acquired a new stake in shares of Clearfield in the fourth quarter valued at $765,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Clearfield during the fourth quarter worth approximately $710,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Trading Down 1.2%

Shares of NASDAQ CLFD traded down $0.39 during midday trading on Tuesday, reaching $33.25. 77,216 shares of the stock were exchanged, compared to its average volume of 159,056. The stock has a 50 day moving average price of $38.20 and a 200-day moving average price of $34.93. The company has a market capitalization of $459.18 million, a P/E ratio of 3,325.00 and a beta of 1.70. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $46.76.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CLFD shares. Northland Capmk cut shares of Clearfield from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Northland Securities downgraded shares of Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price objective for the company. in a research report on Thursday, August 7th. Roth Capital reaffirmed a "buy" rating on shares of Clearfield in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Clearfield from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

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.