Clearfield (NASDAQ:CLFD) Share Price Passes Below 200 Day Moving Average After Insider Selling

Clearfield, Inc. (NASDAQ:CLFD) passed below its 200-day moving average during trading on Monday following insider selling activity. The stock has a 200-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 changing hands.

Specifically, COO John P. Hill sold 16,539 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, 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 filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

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

Clearfield Trading Down 1.2 %

The stock’s 50 day moving average price is $34.41 and its 200-day moving average price is $35.51. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $460.50 million, a PE ratio of -51.73 and a beta of 1.28.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.29%. On average, sell-side analysts expect that Clearfield, Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearfield

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ACK Asset Management LLC grew its stake in shares of Clearfield by 3.6% in the 4th quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider’s stock worth $22,320,000 after buying an additional 25,000 shares in the last quarter. Royce & Associates LP grew its stake in shares of Clearfield by 3.1% in the 4th quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider’s stock worth $14,843,000 after buying an additional 14,464 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Clearfield by 17.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider’s stock worth $9,994,000 after buying an additional 48,730 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock worth $9,704,000 after buying an additional 27,178 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Clearfield by 13.1% in the 4th quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider’s stock worth $5,418,000 after buying an additional 20,269 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Company Profile

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.