Clearfield Inc (NASDAQ:CLFD) Sees Significant Decrease in Short Interest

Clearfield Inc (NASDAQ:CLFD) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 107,500 shares, a decrease of 6.9% from the July 31st total of 115,500 shares. Based on an average trading volume of 20,500 shares, the short-interest ratio is currently 5.2 days. Currently, 1.0% of the company’s stock are short sold.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its holdings in Clearfield by 1,718.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 2,251 shares during the last quarter. Northern Trust Corp grew its holdings in Clearfield by 2.0% in the 2nd quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock valued at $1,956,000 after buying an additional 2,961 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Clearfield by 82.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock valued at $239,000 after buying an additional 7,320 shares during the last quarter. Royal Bank of Canada grew its holdings in Clearfield by 6.3% in the 2nd quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock valued at $1,962,000 after buying an additional 8,749 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Clearfield by 58.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock valued at $374,000 after buying an additional 10,454 shares during the last quarter. 29.68% of the stock is currently owned by hedge funds and other institutional investors.

CLFD traded up $0.30 during midday trading on Friday, reaching $12.77. The company’s stock had a trading volume of 1,028 shares, compared to its average volume of 36,538. The stock has a market cap of $164.78 million, a P/E ratio of 39.69 and a beta of 1.52. The company has a fifty day simple moving average of $11.69 and a 200 day simple moving average of $13.59. Clearfield has a twelve month low of $8.41 and a twelve month high of $16.75.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The firm had revenue of $21.89 million for the quarter, compared to analyst estimates of $22.50 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%. As a group, sell-side analysts expect that Clearfield will post 0.3 earnings per share for the current year.

A number of research analysts have recently commented on the company. ValuEngine lowered Clearfield from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Northland Securities reissued a “buy” rating and set a $17.00 price objective on shares of Clearfield in a report on Friday, July 26th. Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Finally, Roth Capital started coverage on Clearfield in a report on Wednesday, August 21st. They issued a “buy” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Clearfield presently has an average rating of “Buy” and a consensus target price of $16.33.

About Clearfield

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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