Clearfield (NASDAQ:CLFD) Stock Crosses Below 200 Day Moving Average After Insider Selling

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) shares crossed below its 200-day moving average during trading on Monday after an insider sold shares in the company. The stock has a 200-day moving average of $35.51 and traded as low as $32.49. Clearfield shares last traded at $32.59, with a volume of 98,548 shares traded.

Specifically, COO John P. Hill sold 16,539 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

CLFD has been the subject of a number of research analyst reports. StockNews.com raised Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Clearfield in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Stock Down 2.4 %

The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $34.42 and a 200-day simple moving average of $35.37. The firm has a market capitalization of $449.90 million, a PE ratio of -50.54 and a beta of 1.28.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Clearfield

Several hedge funds have recently made changes to their positions in the stock. ACK Asset Management LLC grew its position in shares of Clearfield by 3.6% in the fourth quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock valued at $22,320,000 after purchasing an additional 25,000 shares in the last quarter. Royce & Associates LP grew its position in shares of Clearfield by 3.1% in the fourth quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider's stock valued at $14,843,000 after purchasing an additional 14,464 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Clearfield by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock valued at $9,994,000 after purchasing an additional 48,730 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Clearfield by 12.2% in the third 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 in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Clearfield by 13.1% in the fourth quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider's stock valued at $5,418,000 after purchasing an additional 20,269 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Company 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.