Exchange Traded Concepts LLC Takes Position in Clearfield, Inc. (NASDAQ:CLFD)

Exchange Traded Concepts LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,697 shares of the communications equipment provider’s stock, valued at approximately $300,000. Exchange Traded Concepts LLC owned about 0.05% of Clearfield as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CLFD. Redwood Wealth Management Group LLC purchased a new position in Clearfield in the second quarter valued at about $75,000. Canada Pension Plan Investment Board purchased a new stake in shares of Clearfield during the 2nd quarter valued at about $85,000. SG Americas Securities LLC purchased a new stake in shares of Clearfield during the 2nd quarter valued at about $130,000. Squarepoint Ops LLC acquired a new position in Clearfield during the 2nd quarter worth approximately $217,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings 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 worth $233,000 after acquiring an additional 510 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Clearfield

In related news, Director Walter Louis Jones, Jr. purchased 1,324 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $37.77 per share, for a total transaction of $50,007.48. Following the transaction, the director now directly owns 6,061 shares of the company’s stock, valued at $228,923.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.00% of the stock is owned by insiders.

Clearfield Price Performance

Shares of NASDAQ:CLFD opened at $38.03 on Monday. The stock has a market cap of $541.28 million, a price-to-earnings ratio of -152.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. Clearfield, Inc. has a 12 month low of $22.91 and a 12 month high of $44.83. The stock’s 50 day moving average price is $37.85 and its 200 day moving average price is $37.02.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share 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 company had revenue of $48.79 million during the quarter, compared to analyst estimates of $42.13 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. Equities research analysts anticipate that Clearfield, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CLFD has been the topic of several analyst reports. Roth Mkm dropped their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Clearfield in a research report on Tuesday, September 24th. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Northland Securities lifted their price objective on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and increased their target price for the company from $31.00 to $47.00 in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Clearfield 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.