Short Interest in RF Industries, Ltd. (NASDAQ:RFIL) Increases By 335.6%

RF Industries, Ltd. (NASDAQ:RFIL) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 483,618 shares, an increase of 335.6% from the June 15th total of 111,029 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average trading volume of 564,512 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in shares of RF Industries during the first quarter valued at about $56,000. Vanguard Group Inc. increased its stake in RF Industries by 5.5% during the third quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker’s stock worth $3,223,000 after acquiring an additional 20,536 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of RF Industries during the 3rd quarter valued at approximately $1,651,000. Bridgeway Capital Management LLC raised its holdings in RF Industries by 38.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 66,676 shares of the electronics maker’s stock valued at $549,000 after buying an additional 18,380 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in RF Industries during the 3rd quarter valued at $169,000. Institutional investors own 23.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RFIL. Zacks Research downgraded shares of RF Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Wall Street Zen raised shares of RF Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, B. Riley Financial raised their target price on RF Industries from $11.25 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, RF Industries has a consensus rating of “Hold” and an average target price of $18.00.

RF Industries Stock Up 3.4%

RFIL stock traded up $0.57 during midday trading on Friday, hitting $17.43. The company’s stock had a trading volume of 209,763 shares, compared to its average volume of 416,940. RF Industries has a 12 month low of $5.54 and a 12 month high of $22.30. The firm has a market capitalization of $189.12 million, a price-to-earnings ratio of 124.51 and a beta of 1.27. The company has a 50 day moving average of $17.88 and a two-hundred day moving average of $12.98.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The firm had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $19.67 million. On average, analysts anticipate that RF Industries will post 0.59 earnings per share for the current fiscal year.

About RF Industries

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.