Clearfield Inc. (NASDAQ:CLFD) shares shot up 4.3% on Wednesday . The stock traded as high as $19.79 and last traded at $19.67, with a volume of 84,912 shares changing hands. The stock had previously closed at $18.86.

Separately, Zacks Investment Research cut shares of Clearfield from a “buy” rating to a “hold” rating in a report on Friday, July 15th.

The firm has a market capitalization of $271.25 million and a price-to-earnings ratio of 43.71. The company’s 50 day moving average price is $18.14 and its 200 day moving average price is $16.25.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. During the same quarter in the prior year, the business posted $0.02 earnings per share. The firm earned $16.90 million during the quarter, compared to the consensus estimate of $13.67 million. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. Equities analysts predict that Clearfield Inc. will post $0.44 EPS for the current year.

In other news, Chairman Ronald G. Roth purchased 5,000 shares of the stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $17.60 per share, for a total transaction of $88,000.00. Following the acquisition, the chairman now owns 1,203,725 shares of the company’s stock, valued at $21,185,560. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

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.