Cubist Systematic Strategies LLC Makes New $710,000 Investment in Clearfield, Inc. (NASDAQ:CLFD)

Cubist Systematic Strategies LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFD) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 22,914 shares of the communications equipment provider’s stock, valued at approximately $710,000.

A number of other large investors have also added to or reduced their stakes in CLFD. Tower Research Capital LLC TRC raised its holdings in Clearfield by 340.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 906 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Clearfield during the fourth quarter valued at about $74,000. Quantbot Technologies LP increased its holdings in Clearfield by 261.4% in the 4th quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider’s stock worth $151,000 after buying an additional 3,529 shares during the period. SG Americas Securities LLC increased its holdings in Clearfield by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock worth $164,000 after buying an additional 1,656 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Clearfield in the 4th quarter worth approximately $233,000. 88.73% of the stock is currently owned by institutional investors.

Clearfield Stock Down 0.7%

Shares of CLFD opened at $37.47 on Thursday. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $44.83. The company has a market capitalization of $529.53 million, a PE ratio of -59.48 and a beta of 1.61. The stock has a fifty day simple moving average of $29.32 and a two-hundred day simple moving average of $31.95. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.28. The business had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. As a group, equities analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.75.

About Clearfield

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.