Short Interest in RF Industries, Ltd. (NASDAQ:RFIL) Declines By 51.3%

RF Industries, Ltd. (NASDAQ:RFIL) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 64,957 shares, a decline of 51.3% from the January 15th total of 133,438 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 323,222 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 323,222 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research upgraded RF Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Weiss Ratings raised RF Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Finally, B. Riley Financial restated a “buy” rating on shares of RF Industries in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.25.

RF Industries Price Performance

Shares of RF Industries stock opened at $10.89 on Friday. The stock has a market cap of $116.68 million, a price-to-earnings ratio of 544.77 and a beta of 1.01. The firm’s 50-day moving average is $8.06 and its 200 day moving average is $7.58. RF Industries has a 1 year low of $3.39 and a 1 year high of $12.24.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings data on Wednesday, January 14th. The electronics maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The business had revenue of $22.69 million during the quarter, compared to analyst estimates of $19.38 million. RF Industries had a net margin of 0.09% and a return on equity of 10.08%. On average, equities analysts expect that RF Industries will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On RF Industries

Several institutional investors have recently modified their holdings of RFIL. Goldman Sachs Group Inc. bought a new stake in RF Industries in the 1st quarter worth about $56,000. Heron Bay Capital Management bought a new stake in shares of RF Industries in the second quarter worth approximately $67,000. Global Retirement Partners LLC bought a new stake in shares of RF Industries in the third quarter worth approximately $44,000. Ritholtz Wealth Management purchased a new position in shares of RF Industries during the third quarter valued at approximately $754,000. Finally, AMH Equity Ltd bought a new position in RF Industries during the third quarter valued at approximately $1,843,000. 23.49% of the stock is owned by hedge funds and other institutional investors.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.