Clearfield Inc (NASDAQ:CLFD) Sees Significant Growth in Short Interest

Clearfield Inc (NASDAQ:CLFD) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 118,700 shares, an increase of 15.0% from the May 30th total of 103,200 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 18,000 shares, the short-interest ratio is presently 6.6 days.

Shares of CLFD stock opened at $13.17 on Monday. The company has a fifty day moving average price of $13.40. The stock has a market cap of $179.96 million, a price-to-earnings ratio of 41.16 and a beta of 1.53. Clearfield has a fifty-two week low of $8.41 and a fifty-two week high of $16.75.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $19.08 million during the quarter, compared to analysts’ expectations of $19.00 million. Clearfield had a net margin of 6.03% and a return on equity of 7.22%. Equities analysts expect that Clearfield will post 0.3 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in shares of Clearfield by 1,718.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,251 shares during the last quarter. Rhumbline Advisers increased its position in shares of Clearfield by 47.0% during the 4th quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 4,902 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Clearfield by 82.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock worth $239,000 after purchasing an additional 7,320 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Clearfield by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 111,925 shares of the communications equipment provider’s stock worth $1,110,000 after purchasing an additional 5,110 shares during the last quarter. Finally, Cadence Capital Management LLC acquired a new stake in shares of Clearfield during the 1st quarter worth about $1,232,000. Institutional investors own 29.06% of the company’s stock.

CLFD has been the topic of several recent research reports. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Friday, April 26th. ValuEngine upgraded Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research lowered Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th.

About Clearfield

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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