Quantbot Technologies LP Invests $120,000 in Clearfield, Inc. (NASDAQ:CLFD)

Quantbot Technologies LP bought a new stake in Clearfield, Inc. (NASDAQ:CLFDFree Report) in the third quarter, HoldingsChannel.com reports. The fund bought 4,198 shares of the communications equipment provider’s stock, valued at approximately $120,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLFD. Tower Research Capital LLC TRC increased its holdings in shares of Clearfield by 54.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock worth $72,000 after acquiring an additional 243 shares during the period. Point72 Hong Kong Ltd bought a new position in Clearfield in the 1st quarter worth about $55,000. State of Wyoming increased its stake in shares of Clearfield by 140.6% in the fourth quarter. State of Wyoming now owns 854 shares of the communications equipment provider’s stock valued at $80,000 after purchasing an additional 499 shares during the period. KBC Group NV bought a new stake in shares of Clearfield during the second quarter valued at approximately $45,000. Finally, Quarry LP acquired a new stake in Clearfield in the 1st quarter valued at approximately $58,000. 66.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLFD. StockNews.com lowered Clearfield from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Needham & Company LLC reduced their price objective 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. Finally, Roth Mkm lowered their target price on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.20.

Get Our Latest Stock Analysis on Clearfield

Clearfield Stock Up 4.8 %

NASDAQ:CLFD opened at $31.13 on Tuesday. The business’s 50-day moving average price is $27.79 and its 200 day moving average price is $29.86. Clearfield, Inc. has a 52-week low of $22.91 and a 52-week high of $63.85. The firm has a market cap of $457.92 million, a P/E ratio of 37.96 and a beta of 1.32.

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

Clearfield Company Profile

(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.

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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