Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,419 shares of the communications equipment provider’s stock after selling 18,084 shares during the period. Dana Investment Advisors Inc. owned 1.01% of Clearfield worth $5,530,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new stake in Clearfield during the 2nd quarter worth $75,000. Canada Pension Plan Investment Board acquired a new stake in shares of Clearfield during the second quarter worth about $85,000. SG Americas Securities LLC acquired a new stake in shares of Clearfield during the second quarter worth about $130,000. Squarepoint Ops LLC purchased a new position in shares of Clearfield during the second quarter worth about $217,000. Finally, Price T Rowe Associates Inc. MD increased its position in Clearfield by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after acquiring an additional 510 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Clearfield in a report on Tuesday, September 24th. Northland Securities boosted their price objective on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Clearfield to a “sell” rating in a research note on Monday, August 5th. Finally, Roth Mkm lowered their target price on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.75.

Insider Transactions at Clearfield

In other news, Director Walter Louis Jones, Jr. acquired 1,324 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $37.77 per share, with a total value of $50,007.48. Following the purchase, the director now directly owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.00% of the company’s stock.

Clearfield Trading Down 2.4 %

NASDAQ:CLFD opened at $38.02 on Wednesday. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $44.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. The stock has a fifty day moving average price of $38.75 and a two-hundred day moving average price of $36.34. The stock has a market capitalization of $541.14 million, a price-to-earnings ratio of -152.08 and a beta of 1.34.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.30. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The firm had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $42.13 million. During the same quarter last year, the business earned $0.33 earnings per share. The business’s revenue for the quarter was down 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clearfield, Inc. will post -0.98 earnings per share for the current fiscal year.

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.