RF Industries (NASDAQ:RFIL) Share Price Crosses Below 200 Day Moving Average – Here’s Why

RF Industries, Ltd. (NASDAQ:RFIL) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $13.65 and traded as low as $8.23. RF Industries shares last traded at $8.38, with a volume of 171,379 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RFIL. Zacks Research cut shares of RF Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings upgraded RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 25th. B. Riley Financial lowered their price objective on shares of RF Industries from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Wall Street Zen raised RF Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Lake Street Capital lowered their target price on RF Industries from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.50.

RF Industries Trading Down 0.8%

The business has a fifty day moving average of $10.26 and a two-hundred day moving average of $13.61. The company has a market cap of $90.15 million, a price-to-earnings ratio of 37.77 and a beta of 1.34.

RF Industries (NASDAQ:RFIL) last issued its quarterly earnings results on Monday, September 14th. The electronics maker reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $23.96 million during the quarter, compared to analysts’ expectations of $23.28 million. RF Industries had a return on equity of 15.32% and a net margin of 2.83%. On average, research analysts forecast that RF Industries, Ltd. will post 0.50 EPS for the current fiscal year.

Institutional Trading of RF Industries

Large investors have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of RF Industries during the first quarter worth $131,000. Bank of New York Mellon Corp acquired a new position in RF Industries during the second quarter worth about $397,000. Bank of America Corp DE boosted its position in RF Industries by 519.3% during the first quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker’s stock worth $213,000 after acquiring an additional 17,302 shares during the last quarter. Engineers Gate Manager LP grew its stake in RF Industries by 28.4% during the 2nd quarter. Engineers Gate Manager LP now owns 21,248 shares of the electronics maker’s stock valued at $451,000 after acquiring an additional 4,697 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in RF Industries in the 1st quarter valued at about $731,000. 23.49% of the stock is currently owned by hedge funds and other institutional investors.

About RF Industries

RF Industries Ltd. (NASDAQ: RFIL) designs, manufactures and distributes products used to build and maintain wireless communications and other electronic infrastructure. The company serves wireless carriers, original equipment manufacturers, system integrators, distributors and government customers, with applications spanning cellular communications, public safety, data communications and private wireless networks.

Its product portfolio includes radio-frequency connectors, coaxial cable assemblies, antennas, combiners, filters, power distribution equipment and other passive RF components.