Clearfield (NASDAQ:CLFD) Stock Price Passes Below Two Hundred Day Moving Average After Insider Selling

Clearfield, Inc. (NASDAQ:CLFD)’s share price passed below its two hundred day moving average during trading on Monday following insider selling activity. The stock has a two hundred day moving average of $35.51 and traded as low as $32.49. Clearfield shares last traded at $32.59, with a volume of 98,548 shares traded.

Specifically, COO John P. Hill sold 16,539 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total value of $550,087.14. Following the completion of the sale, the chief operating officer now owns 189,886 shares of the company’s stock, valued at $6,315,608.36. The trade was a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Clearfield in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Clearfield has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Trading Up 2.2 %

The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $470.53 million, a P/E ratio of -52.86 and a beta of 1.28. The business’s fifty day simple moving average is $34.42 and its two-hundred day simple moving average is $35.44.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.29%. As a group, analysts forecast that Clearfield, Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of Clearfield

Hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC raised its stake in shares of Clearfield by 12.2% in the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after purchasing an additional 27,178 shares in the last quarter. SG Americas Securities LLC increased its holdings in Clearfield by 8.3% in the 3rd quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 279 shares during the period. Creative Planning increased its holdings in Clearfield by 0.5% in the 3rd quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock valued at $3,841,000 after buying an additional 511 shares during the period. Barclays PLC raised its stake in shares of Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after buying an additional 54,670 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Clearfield by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock worth $1,171,000 after acquiring an additional 794 shares during the period. Institutional investors own 88.73% of the company’s stock.

About Clearfield

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.