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US Technical Analysis Report

Clearfield, Inc.

10 October 2023

Section 1: Company Overview and Fundamentals

1.1 Company Overview:

Clearfield, Inc. develops, produces, and sells fiber optic management, protection devices, and delivery products for communications networks. With the use of the company's technologies, its clients may link twice as many homes in their Fiber to the Home (FTTH) constructions while using less energy. Clearfield and Nestor Cables are the company's two operating segments.

Kalkine’s American Tech Report covers the Company Overview, Key positives & negatives, Investment summary, Key investment metrics, Top 10 shareholding, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

  Stock Performance:

  • CLFD has been corrected by 20.01% in the past month, furthermore with a 42.94% of correction in the past six months.
  • The stock is leaning towards its lower band of its 52-week range of USD 134.90 and 52-week low price of USD 29.19. Post the announcement of Q3FY22 results the stock has given a return of around 40.04%, with currently price inside a support zone of USD 25-USD 27.
  • The price is currently trading below its long-term (200-day) SMA and its short-term (50-day) SMA, with the current oversold RSI of around 19.82.

 

1.2 The Key Positives, Negatives, and Investment summary

 

1.3 Key Metrics:

The graph below demonstrates that CLFD is more profitable than its industry rivals at the given levels of operation. Also, a higher current ratio for the company denotes better short-term working capital liquidity. It also proves that a business has access to sufficient liquid short-term assets to pay down all current short-term debt, if necessary.

1.4 Top 10 shareholders:

The top 10 shareholders together form ~54.88% of the total shareholding, signifying concentrated shareholding. BlackRock Institutional Trust Company, N.A. and Franklin Mutual Advisers, LLC [Activist] are the biggest shareholders, holding the maximum stake in the company at ~12.56% and ~9.92%, respectively.

Section 2: Business Updates and Corporate Business Highlights

2.1 Recent Updates:

The below picture gives an overview of the recent updates: