Clearfield (CLFD) Stock Rating Lowered by ValuEngine
Clearfield (NASDAQ:CLFD) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.
Separately, Zacks Investment Research downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th.
Shares of NASDAQ:CLFD opened at $12.08 on Tuesday. Clearfield has a fifty-two week low of $10.35 and a fifty-two week high of $15.30. The stock has a market cap of $168.66 million, a P/E ratio of 37.75 and a beta of 1.18.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Clearfield during the 3rd quarter valued at about $176,000. Bank of New York Mellon Corp boosted its stake in Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after purchasing an additional 4,107 shares during the period. Royal Bank of Canada boosted its stake in Clearfield by 11.7% during the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock valued at $1,631,000 after purchasing an additional 13,275 shares during the period. Renaissance Technologies LLC boosted its stake in Clearfield by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after purchasing an additional 7,700 shares during the period. Finally, BlackRock Inc. boosted its stake in Clearfield by 3.2% during the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after purchasing an additional 25,107 shares during the period. 28.72% of the stock is owned by institutional investors and hedge funds.
Clearfield Company Profile
Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.
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