CLFD Stock Summary and Trading Ideas (Clearfield | NASDAQ:CLFD)

Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks. It provides a range of products including copper assemblies, cassettes, box enclosures, fiber connectors, frames, microduct, terminals, vaults, pedestal inserts, FieldSmart, WaveSmart, and CraftSmart. The company has a global presence with the majority of the revenue derived from the United States. The company has two reportable segments namely Clearfield segment and Nestor cables segment. The majority of revenue is derived from Clearfield segment.

Clearfield trades on the NASDAQ stock market under the symbol CLFD.

As of May 16, 2024, CLFD stock price declined to $37.02 with 133,888 million shares trading.

CLFD has a beta of 1.68, meaning it tends to be more sensitive to market movements. CLFD has a correlation of 0.18 to the broad based SPY ETF.

CLFD has a market cap of $526.92 million. This is considered a Small Cap stock.

Last quarter Clearfield reported $37 million in Revenue and -$.40 earnings per share. This beat revenue expectation by $6 million and exceeded earnings estimates by $.12.

In the last 3 years, CLFD stock traded as high as $134.90 and as low as $22.91.

The top ETF exchange traded funds that CLFD belongs to (by Net Assets): VTI, IWM, VGT, VXF, IWO.

CLFD stock has underperformed the market in the last year with a return of -0.8%, while SPY returned +29.6%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CLFD shares. However, CLFD has outperformed the market in the last 3 month and 2 week periods, returning +19.3% and +19.7%, while SPY returned +5.6% and +5.7%, respectively. This indicates CLFD has been having a stronger performance recently.

CLFD support price is $37.11 and resistance is $38.87 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CLFD stock will trade within this expected range on the day.