Clearfield (NASDAQ:CLFD) Share Price Crosses Above Two Hundred Day Moving Average of $0.00

Clearfield Inc (NASDAQ:CLFD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $12.89. Clearfield shares last traded at $12.57, with a volume of 47 shares changing hands.

A number of equities research analysts recently weighed in on CLFD shares. ValuEngine cut Clearfield from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. TheStreet lowered Clearfield from a “b” rating to a “c+” rating in a report on Friday, April 26th. Northland Securities reissued a “buy” rating and set a $17.00 target price on shares of Clearfield in a report on Friday, July 26th. Finally, Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th.

The company has a market capitalization of $179.54 million, a P/E ratio of 38.65 and a beta of 1.46. The firm has a fifty day simple moving average of $13.28.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $21.89 million for the quarter, compared to analyst estimates of $22.50 million. Clearfield had a return on equity of 6.49% and a net margin of 5.46%. On average, research analysts expect that Clearfield Inc will post 0.3 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Clearfield by 82.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock valued at $239,000 after buying an additional 7,320 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Clearfield in the 1st quarter valued at approximately $1,232,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Clearfield by 1,718.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 2,251 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Clearfield by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 111,925 shares of the communications equipment provider’s stock valued at $1,110,000 after buying an additional 5,110 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Clearfield by 0.5% in the 4th quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock valued at $8,124,000 after buying an additional 3,920 shares during the last quarter. 29.06% of the stock is currently owned by hedge funds and other institutional investors.

About Clearfield (NASDAQ:CLFD)

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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