Clearfield, Inc. (NASDAQ:CLFD) COO Sells $550,087.14 in Stock

Clearfield, Inc. (NASDAQ:CLFD) COO John P. Hill sold 16,539 shares of Clearfield stock in a transaction that occurred on 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 in the company, valued at approximately $6,315,608.36. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Clearfield Trading Down 1.2 %

CLFD opened at $32.59 on Monday. The stock has a market cap of $460.50 million, a PE ratio of -51.73 and a beta of 1.28. The business has a 50 day moving average of $34.41 and a 200-day moving average of $35.51. Clearfield, Inc. has a 52 week low of $27.06 and a 52 week high of $44.83. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last announced its earnings results 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%. Equities research analysts predict that Clearfield, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on CLFD shares. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Clearfield in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Institutional Investors Weigh In On Clearfield

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of Clearfield by 340.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 906 shares in the last quarter. Quantbot Technologies LP purchased a new position in Clearfield during the third quarter valued at $53,000. KLP Kapitalforvaltning AS bought a new stake in Clearfield in the fourth quarter worth $74,000. Truvestments Capital LLC purchased a new stake in shares of Clearfield in the third quarter worth $80,000. Finally, SG Americas Securities LLC increased its holdings in shares of Clearfield by 8.3% during the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other 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.