Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 464,345 shares of the communications equipment provider’s stock after selling 31,932 shares during the quarter. Royce & Associates LP owned about 3.26% of Clearfield worth $18,091,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in Clearfield in the second quarter valued at approximately $75,000. Canada Pension Plan Investment Board acquired a new stake in Clearfield in the second quarter valued at approximately $85,000. SG Americas Securities LLC acquired a new stake in Clearfield in the second quarter valued at approximately $130,000. Squarepoint Ops LLC acquired a new stake in Clearfield in the second quarter valued at approximately $217,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Clearfield by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after acquiring an additional 510 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Clearfield Stock Performance

Shares of Clearfield stock opened at $28.26 on Friday. The firm has a market capitalization of $402.42 million, a P/E ratio of -34.05 and a beta of 1.35. Clearfield, Inc. has a 52 week low of $24.78 and a 52 week high of $44.83. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $37.09 and its two-hundred day moving average is $37.72.

Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The business had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. Research analysts forecast that Clearfield, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on CLFD shares. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and raised their target price for the company from $31.00 to $47.00 in a report on Friday, August 2nd. Northland Securities raised their target price on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, November 8th. Finally, Roth Mkm dropped their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield 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.