Clearfield Inc. (NASDAQ:CLFD)’s share price dropped 2.8% during trading on Monday . The company traded as low as $19.05 and last traded at $19.17, with a volume of 51,999 shares traded. The stock had previously closed at $19.73.

Separately, Zacks Investment Research raised shares of Clearfield from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Thursday, May 5th.

The company has a market capitalization of $267.79 million and a PE ratio of 40.43. The company has a 50-day moving average price of $18.63 and a 200-day moving average price of $16.84.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, July 28th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $21.60 million for the quarter, compared to analyst estimates of $17.85 million. Clearfield’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Equities analysts predict that Clearfield Inc. will post $0.50 EPS for the current year.

In other news, CEO Cheryl Beranek sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $19.21, for a total transaction of $192,100.00. Following the transaction, the chief executive officer now directly owns 592,025 shares of the company’s stock, valued at $11,372,800.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A hedge fund recently raised its stake in Clearfield stock. Royce & Associates LLC boosted its position in Clearfield Inc. (NASDAQ:CLFD) by 25.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,600 shares of the company’s stock after buying an additional 29,800 shares during the period. Royce & Associates LLC owned approximately 1.08% of Clearfield worth $1,979,000 as of its most recent SEC filing.

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, including Clearview Classic and Clearview Blue, and Clearview xPAK; Connectivity and Optical Components, including Cable-to-Cable Deployment and Optical Components; FieldSmart, including FieldSmart Fiber Crossover Distribution System, FieldSmart Fiber Scalability Center, FieldSmart Fiber Delivery Point and FieldSmart Small Count Delivery; FieldShield; CraftSmart, and Cable Assemblies.

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