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

Clearfield, Inc. (NASDAQ:CLFD) shares crossed 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 trading hands.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, February 7th. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Trading Down 1.2 %

The firm has a market cap of $460.50 million, a price-to-earnings ratio of -51.73 and a beta of 1.28. The company’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.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share 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 analysts expect that Clearfield, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of Clearfield

Institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its holdings in Clearfield by 12.2% in the 3rd 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 raised its position in shares of Clearfield by 8.3% in the third 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 last quarter. Creative Planning lifted its stake in shares of Clearfield by 0.5% in the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after buying an additional 511 shares in the last quarter. Barclays PLC boosted its position in Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock worth $3,428,000 after acquiring an additional 54,670 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Clearfield during the 3rd quarter valued at about $300,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.