Divisadero Street Capital Management LP Invests $7.80 Million in Clearfield, Inc. (NASDAQ:CLFD)

Divisadero Street Capital Management LP purchased a new position in Clearfield, Inc. (NASDAQ:CLFD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 202,298 shares of the communications equipment provider’s stock, valued at approximately $7,801,000. Clearfield makes up about 1.2% of Divisadero Street Capital Management LP’s holdings, making the stock its 21st largest position. Divisadero Street Capital Management LP owned approximately 1.42% of Clearfield as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Clearfield in the 4th quarter worth approximately $25,000. Victory Capital Management Inc. boosted its stake in Clearfield by 70.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 860 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in Clearfield during the second quarter worth $75,000. SG Americas Securities LLC purchased a new stake in Clearfield in the 2nd quarter valued at $130,000. Finally, Weil Company Inc. acquired a new stake in shares of Clearfield in the 4th quarter worth $206,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clearfield

In other Clearfield news, Director Walter Louis Jones, Jr. purchased 1,324 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $37.77 per share, for a total transaction of $50,007.48. Following the completion of the purchase, the director now directly owns 6,061 shares of the company’s stock, valued at $228,923.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Clearfield Stock Performance

Shares of CLFD stock opened at $40.72 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. The firm has a market cap of $579.57 million, a P/E ratio of -162.88 and a beta of 1.34. The firm’s 50 day moving average price is $39.07 and its 200-day moving average price is $35.77. Clearfield, Inc. has a one year low of $22.91 and a one year high of $44.83.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.30. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The company had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was down 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Clearfield, Inc. will post -0.98 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CLFD. Northland Securities boosted their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Clearfield to a “sell” rating in a research note on Monday, August 5th. Roth Mkm reduced their price target on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and upped their price objective for the company from $31.00 to $47.00 in a report on Friday, August 2nd. Finally, Needham & Company LLC raised their target price on Clearfield from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearfield currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

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.