Short Interest in Clearfield, Inc. (NASDAQ:CLFD) Grows By 9.4%

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,320,000 shares, a growth of 9.4% from the March 31st total of 2,120,000 shares. Currently, 18.8% of the company's shares are sold short. Based on an average daily trading volume, of 206,900 shares, the days-to-cover ratio is presently 11.2 days.

Analyst Upgrades and Downgrades

CLFD has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $36.00 price objective on shares of Clearfield in a research report on Wednesday, April 17th. Roth Mkm reduced their price objective on shares of Clearfield from $49.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $42.20.

Insider Activity at Clearfield

In other news, Chairman Ronald G. Roth purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average cost of $29.62 per share, for a total transaction of $59,240.00. Following the acquisition, the chairman now directly owns 1,259,796 shares of the company's stock, valued at approximately $37,315,157.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearfield

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Clearfield during the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust raised its position in shares of Clearfield by 134.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider's stock valued at $33,000 after buying an additional 648 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Clearfield by 70.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider's stock valued at $61,000 after buying an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Clearfield by 109.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider's stock worth $78,000 after purchasing an additional 1,423 shares during the last quarter. Finally, CWM LLC increased its position in Clearfield by 28.1% in the fourth quarter. CWM LLC now owns 2,936 shares of the communications equipment provider's stock worth $85,000 after purchasing an additional 644 shares during the last quarter. Institutional investors own 88.73% of the company's stock.

Clearfield Stock Up 0.7 %

Shares of NASDAQ:CLFD traded up $0.22 during midday trading on Tuesday, reaching $30.12. The company's stock had a trading volume of 169,817 shares, compared to its average volume of 199,815. The firm has a 50 day moving average of $29.73 and a 200-day moving average of $28.01. The firm has a market capitalization of $443.07 million, a P/E ratio of 36.46 and a beta of 1.32. Clearfield has a 12-month low of $22.91 and a 12-month high of $50.82.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business had revenue of $34.20 million for the quarter, compared to analysts' expectations of $29.88 million. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The business's revenue for the quarter was down 60.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. On average, research analysts predict that Clearfield will post -1.03 EPS 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.