Crawford Fund Management LLC Trims Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Crawford Fund Management LLC cut its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 38.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,988 shares of the communications equipment provider’s stock after selling 32,375 shares during the quarter. Clearfield makes up about 0.4% of Crawford Fund Management LLC’s holdings, making the stock its 26th biggest holding. Crawford Fund Management LLC owned 0.36% of Clearfield worth $1,986,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Clearfield during the 3rd quarter valued at about $53,000. Redwood Wealth Management Group LLC bought a new position in Clearfield during the 2nd quarter valued at about $75,000. Truvestments Capital LLC bought a new position in Clearfield during the 3rd quarter valued at about $80,000. Canada Pension Plan Investment Board bought a new position in Clearfield during the 2nd quarter valued at about $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Clearfield in the 2nd quarter worth approximately $130,000. Institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CLFD. Northland Securities increased their price objective on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. StockNews.com cut shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. Finally, Roth Mkm reduced their target price on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Trading Down 3.0 %

Shares of CLFD opened at $29.98 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69. Clearfield, Inc. has a 1 year low of $24.78 and a 1 year high of $44.83. The company has a 50 day simple moving average of $35.24 and a two-hundred day simple moving average of $37.40. The firm has a market cap of $428.41 million, a P/E ratio of -35.27 and a beta of 1.35.

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

Clearfield Profile

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.