Clearfield (NASDAQ:CLFD) Shares Cross Below Two Hundred Day Moving Average of $62.48

Clearfield, Inc. (NASDAQ:CLFDGet Rating) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $62.48 and traded as low as $53.92. Clearfield shares last traded at $55.02, with a volume of 7,256 shares.

A number of equities research analysts have recently commented on the company. Northland Securities lifted their price objective on Clearfield from $73.00 to $78.00 in a research report on Friday, April 29th. StockNews.com began coverage on Clearfield in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

The business has a fifty day moving average of $57.63 and a 200-day moving average of $62.48. The firm has a market capitalization of $757.74 million, a P/E ratio of 23.12 and a beta of 1.17.

Clearfield (NASDAQ:CLFDGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The communications equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The company had revenue of $53.50 million during the quarter, compared to the consensus estimate of $47.00 million. Clearfield had a return on equity of 30.26% and a net margin of 17.58%. During the same quarter in the prior year, the firm earned $0.27 EPS. Sell-side analysts anticipate that Clearfield, Inc. will post 2.77 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Ellsworth Advisors LLC acquired a new stake in shares of Clearfield in the fourth quarter valued at about $556,000. Victory Capital Management Inc. grew its position in Clearfield by 39.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,411 shares of the communications equipment provider’s stock worth $1,048,000 after buying an additional 3,535 shares in the last quarter. Swiss National Bank acquired a new stake in Clearfield during the fourth quarter worth about $2,178,000. Lazard Asset Management LLC lifted its stake in Clearfield by 18.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,086 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 318 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Clearfield during the fourth quarter worth about $703,000. 51.84% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Company Profile (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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