Clearfield, Inc. (NASDAQ:CLFD) Short Interest Update

Clearfield, Inc. (NASDAQ:CLFDGet Free Report) was the target of a significant decrease in short interest in the month of February. As of February 29th, there was short interest totalling 2,270,000 shares, a decrease of 5.8% from the February 14th total of 2,410,000 shares. Currently, 18.3% of the company’s stock are sold short. Based on an average trading volume of 276,200 shares, the days-to-cover ratio is currently 8.2 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CLFD shares. Roth Mkm dropped their target price on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, January 29th. Needham & Company LLC cut their price target on shares of Clearfield from $40.00 to $36.00 and set a “buy” rating for the company in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.20.

Get Our Latest Analysis on CLFD

Insider Transactions at Clearfield

In related news, Chairman Ronald G. Roth acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the transaction, the chairman now owns 1,259,796 shares of the company’s stock, valued at $37,315,157.52. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Clearfield

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in shares of Clearfield during the 3rd quarter worth $1,247,000. Barclays PLC increased its holdings in shares of Clearfield by 69.6% during the 3rd quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock worth $505,000 after buying an additional 7,226 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of Clearfield by 44.2% during the 3rd quarter. Truvestments Capital LLC now owns 4,689 shares of the communications equipment provider’s stock worth $134,000 after buying an additional 1,438 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Clearfield during the 3rd quarter worth $476,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Clearfield by 7.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,311 shares of the communications equipment provider’s stock valued at $678,000 after purchasing an additional 935 shares in the last quarter. 66.56% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Stock Up 2.6 %

Shares of Clearfield stock opened at $29.64 on Monday. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The firm has a market cap of $435.92 million, a PE ratio of 36.15 and a beta of 1.33. The business’s fifty day moving average is $28.55 and its two-hundred day moving average is $28.24.

Clearfield (NASDAQ:CLFDGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company had revenue of $34.20 million for the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was down 60.2% compared to the same quarter last year. Equities research analysts anticipate that Clearfield will post -1.03 EPS for the current year.

About Clearfield

(Get Free Report)

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.

Further Reading

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