ValuEngine upgraded shares of Clearfield (NASDAQ:CLFD) from a hold rating to a buy rating in a report released on Thursday.
Separately, Zacks Investment Research lowered Clearfield from a buy rating to a hold rating in a research report on Wednesday, September 26th.
CLFD opened at $11.71 on Thursday. The company has a market capitalization of $159.79 million, a P/E ratio of 36.59 and a beta of 1.10. Clearfield has a one year low of $10.35 and a one year high of $15.30.
A number of hedge funds and other institutional investors have recently made changes to their positions in CLFD. Vanguard Group Inc. raised its position in Clearfield by 8.6% in the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the period. BlackRock Inc. raised its position in Clearfield by 3.2% in the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after purchasing an additional 25,107 shares during the period. Russell Investments Group Ltd. purchased a new stake in Clearfield in the third quarter valued at approximately $176,000. Renaissance Technologies LLC increased its position in shares of Clearfield by 1.5% during the third quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock worth $6,846,000 after acquiring an additional 7,700 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Clearfield by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after acquiring an additional 4,107 shares during the period. 28.92% of the stock is currently owned by institutional investors.
Clearfield Company Profile
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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.
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