Bard Associates Inc. Boosts Stock Position in Clearfield, Inc. (NASDAQ:CLFD)

Bard Associates Inc. grew its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,220 shares of the communications equipment provider’s stock after buying an additional 741 shares during the quarter. Bard Associates Inc. owned approximately 0.09% of Clearfield worth $476,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CLFD. Redwood Wealth Management Group LLC bought a new position in shares of Clearfield in the 2nd quarter worth about $75,000. Canada Pension Plan Investment Board bought a new position in shares of Clearfield during the second quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in shares of Clearfield in the 2nd quarter worth approximately $130,000. Squarepoint Ops LLC purchased a new stake in shares of Clearfield in the 2nd quarter worth approximately $217,000. Finally, Price T Rowe Associates Inc. MD increased its position in Clearfield by 7.3% during 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 buying an additional 510 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

Clearfield Stock Performance

Shares of NASDAQ CLFD opened at $29.62 on Friday. The business has a 50-day simple moving average of $37.26 and a two-hundred day simple moving average of $37.77. Clearfield, Inc. has a fifty-two week low of $24.78 and a fifty-two week high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Clearfield, Inc. will post -0.05 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CLFD. Northland Securities upped their price objective on Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a report on Friday, November 8th. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $47.00 in a research note on Friday, August 2nd. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Roth Mkm cut their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clearfield presently has an average rating of “Moderate Buy” and a consensus price target 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.