Clearfield (NASDAQ:CLFD) Shares Pass Above 200 Day Moving Average of $0.00

Clearfield Inc (NASDAQ:CLFD)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $11.58. Clearfield shares last traded at $11.58, with a volume of 100 shares traded.

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

The stock has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $13.88. The firm has a market cap of $165.26 million, a PE ratio of 33.78 and a beta of 1.46.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Clearfield had a return on equity of 6.43% and a net margin of 5.46%. The business had revenue of $21.89 million during the quarter, compared to analyst estimates of $22.50 million. Equities research analysts forecast that Clearfield Inc will post 0.3 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Clearfield by 13.0% in the 2nd quarter. Vanguard Group Inc. now owns 566,494 shares of the communications equipment provider’s stock worth $7,506,000 after purchasing an additional 65,274 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Clearfield by 137.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock worth $647,000 after purchasing an additional 28,260 shares in the last quarter. Northern Trust Corp boosted its stake in Clearfield by 2.0% in the 2nd quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock worth $1,956,000 after purchasing an additional 2,961 shares in the last quarter. Renaissance Technologies LLC raised its position in Clearfield by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 546,299 shares of the communications equipment provider’s stock worth $7,238,000 after buying an additional 11,300 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Clearfield by 58.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock worth $374,000 after buying an additional 10,454 shares during the last quarter. 29.07% of the stock is 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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