Clearfield, Inc. (NASDAQ:CLFD) Shares Bought by Bard Associates Inc.

Bard Associates Inc. lifted its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,220 shares of the communications equipment provider’s stock after buying an additional 741 shares during the quarter. Bard Associates Inc.’s holdings in Clearfield were worth $476,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Redwood Wealth Management Group LLC acquired a new stake in Clearfield during the 2nd quarter worth $75,000. Canada Pension Plan Investment Board acquired a new stake in shares of Clearfield during the second quarter worth about $85,000. SG Americas Securities LLC purchased a new stake in shares of Clearfield in the 2nd quarter valued at about $130,000. Squarepoint Ops LLC acquired a new stake in shares of Clearfield in the 2nd quarter valued at about $217,000. Finally, Moody National Bank Trust Division purchased a new position in Clearfield during the 2nd quarter worth approximately $252,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Clearfield Price Performance

Shares of CLFD stock opened at $29.62 on Friday. The stock has a 50 day simple moving average of $37.26 and a 200-day simple moving average of $37.77. 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, Inc. has a 12-month low of $24.78 and a 12-month high of $44.83.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share 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 company 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 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts expect that Clearfield, Inc. will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLFD shares. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research note on Friday, November 8th. Northland Securities upped their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Roth Mkm reduced their target price on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and raised their price target for the stock from $31.00 to $47.00 in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Clearfield 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.