Truvestments Capital LLC Invests $80,000 in Clearfield, Inc. (NASDAQ:CLFD)

Truvestments Capital LLC purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,048 shares of the communications equipment provider’s stock, valued at approximately $80,000.

A number of other hedge funds have also bought and sold shares of CLFD. Segall Bryant & Hamill LLC increased its position in shares of Clearfield by 12.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after purchasing an additional 27,178 shares during the last quarter. Quest Partners LLC purchased a new position in Clearfield in the third quarter valued at about $578,000. Bard Associates Inc. grew its position in shares of Clearfield by 6.5% during the 3rd quarter. Bard Associates Inc. now owns 12,220 shares of the communications equipment provider’s stock valued at $476,000 after acquiring an additional 741 shares during the period. Easterly Investment Partners LLC lifted its stake in Clearfield by 31.3% in the third quarter. Easterly Investment Partners LLC now owns 11,632 shares of the communications equipment provider’s stock valued at $453,000 after purchasing an additional 2,774 shares during the last quarter. Finally, Creative Planning grew its holdings in Clearfield by 0.5% during the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock valued at $3,841,000 after purchasing an additional 511 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CLFD has been the subject of several research reports. Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $47.00 in a report on Friday, August 2nd. StockNews.com lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Wednesday. Northland Securities boosted their price objective on Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. Finally, Roth Mkm reduced their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Stock Performance

Clearfield stock opened at $30.90 on Wednesday. Clearfield, Inc. has a fifty-two week low of $24.78 and a fifty-two week high of $44.83. The firm’s fifty day moving average price is $35.64 and its 200-day moving average price is $37.51. The stock has a market cap of $441.53 million, a P/E ratio of -36.35 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. The firm had revenue of $46.80 million during the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts expect that Clearfield, Inc. will post -0.05 earnings per share for the current fiscal year.

About Clearfield

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.