ValuEngine lowered shares of Clearfield (NASDAQ:CLFD) from a hold rating to a sell rating in a report issued on Monday morning.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Clearfield from a buy rating to a hold rating in a research note on Monday. Lake Street Capital reissued a buy rating on shares of Clearfield in a research note on Saturday, December 30th.
Shares of NASDAQ:CLFD traded up $0.40 during midday trading on Monday, hitting $13.75. The company had a trading volume of 15,230 shares, compared to its average volume of 30,201. Clearfield has a twelve month low of $11.00 and a twelve month high of $16.50. The stock has a market cap of $174.01, a PE ratio of 47.68 and a beta of 1.07.
Hedge funds have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in Clearfield during the third quarter worth $272,000. Dimensional Fund Advisors LP increased its stake in Clearfield by 9.7% during the third quarter. Dimensional Fund Advisors LP now owns 433,791 shares of the communications equipment provider’s stock worth $5,900,000 after acquiring an additional 38,196 shares during the last quarter. WCM Investment Management CA increased its stake in Clearfield by 55.7% during the fourth quarter. WCM Investment Management CA now owns 311,514 shares of the communications equipment provider’s stock worth $3,816,000 after acquiring an additional 111,499 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Clearfield by 26.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the communications equipment provider’s stock worth $260,000 after acquiring an additional 4,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Clearfield by 222.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,815 shares of the communications equipment provider’s stock worth $132,000 after acquiring an additional 7,461 shares during the last quarter. 31.27% of the stock is owned by institutional investors.
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Clearfield Company Profile
Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.
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