Clearfield Inc. (CLFD) Sees Strong Trading Volume
Clearfield Inc. (NASDAQ:CLFD) saw unusually-high trading volume on Tuesday . Approximately 82,235 shares were traded during trading, an increase of 28% from the previous session’s volume of 64,271 shares.The stock last traded at $18.01 and had previously closed at $19.00.
Separately, Zacks Investment Research raised shares of Clearfield from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research report on Friday, July 29th.
The stock has a market capitalization of $252.00 million and a P/E ratio of 38.0428. The company has a 50 day moving average of $18.64 and a 200-day moving average of $16.87.
Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, July 28th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm had revenue of $21.60 million for the quarter, compared to analyst estimates of $17.85 million. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts expect that Clearfield Inc. will post $0.50 earnings per share for the current fiscal year.
In related news, CEO Cheryl Beranek sold 10,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $19.21, for a total value of $192,100.00. Following the sale, the chief executive officer now directly owns 592,025 shares of the company’s stock, valued at $11,372,800.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John P. Hill sold 5,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $19.16, for a total transaction of $95,800.00. Following the completion of the sale, the chief operating officer now directly owns 244,593 shares in the company, valued at $4,686,401.88. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Clearfield stock. Royce & Associates LLC increased its stake in shares of Clearfield Inc. (NASDAQ:CLFD) by 25.3% during the fourth quarter, according to its most recent 13F filing 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 approximately 1.08% of Clearfield worth $1,979,000 at the end of the most recent reporting period.
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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