Clearfield (NASDAQ:CLFD) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Clearfield, Inc. (NASDAQ:CLFD) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $30.70 and traded as high as $31.64. Clearfield shares last traded at $31.27, with a volume of 198,664 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLFD. Zacks Research raised shares of Clearfield from a “strong sell” rating to a “hold” rating in a research report on Friday, October 30th. Lake Street Capital set a $38.00 price target on shares of Clearfield in a research report on Thursday, August 6th. Needham & Company LLC reduced their price target on shares of Clearfield from $52.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Clearfield from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clearfield currently has an average rating of “Moderate Buy” and an average price target of $41.75.

Clearfield Price Performance

The firm has a market capitalization of $424.77 million, a price-to-earnings ratio of 223.36 and a beta of 2.06. The firm’s fifty day moving average is $30.70 and its 200 day moving average is $32.46.

Institutional Trading of Clearfield

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Trust Company N.A acquired a new position in Clearfield in the 2nd quarter worth about $80,000. Legal & General Group Plc acquired a new stake in shares of Clearfield during the 2nd quarter valued at about $89,000. State of Wyoming acquired a new stake in shares of Clearfield during the 2nd quarter valued at about $96,000. Lotus Technology Management LP bought a new stake in shares of Clearfield in the 2nd quarter valued at approximately $236,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of Clearfield in the 2nd quarter valued at approximately $291,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Company Profile

Clearfield, Inc. designs, manufactures and distributes fiber-optic management and connectivity products used to build and maintain broadband networks. Its solutions help service providers organize, protect and connect fiber from central offices and network hubs to homes and businesses. The company’s offerings include fiber distribution cabinets, enclosures, panels, wall boxes and related connectivity components. Its product lines include FieldSmart, YOURx and StreetSmart, which are designed for applications such as fiber-to-the-home deployments and other access-network environments.