RF Industries, Ltd. (NASDAQ:RFIL) Sees Large Drop in Short Interest

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

RF Industries Stock Performance

Shares of NASDAQ RFIL traded down $0.24 during mid-day trading on Thursday, reaching $11.28. The company had a trading volume of 52,106 shares, compared to its average volume of 286,849. The stock has a market capitalization of $120.81 million, a PE ratio of 564.28 and a beta of 1.01. RF Industries has a twelve month low of $3.39 and a twelve month high of $12.24. The stock’s 50 day moving average is $7.86 and its 200-day moving average is $7.54.

RF Industries (NASDAQ:RFIL) last issued its earnings results on Wednesday, January 14th. The electronics maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. RF Industries had a return on equity of 10.08% and a net margin of 0.09%.The company had revenue of $22.69 million for the quarter, compared to analyst estimates of $19.38 million. On average, sell-side analysts anticipate that RF Industries will post 0.11 EPS for the current year.

Institutional Trading of RF Industries

Several large investors have recently modified their holdings of RFIL. Global Retirement Partners LLC acquired a new position in RF Industries in the 3rd quarter valued at $44,000. Goldman Sachs Group Inc. acquired a new position in RF Industries during the 1st quarter worth $56,000. PFG Investments LLC bought a new stake in RF Industries during the fourth quarter valued at about $64,000. Heron Bay Capital Management acquired a new stake in shares of RF Industries in the second quarter valued at about $67,000. Finally, Bailard Inc. acquired a new stake in shares of RF Industries in the third quarter valued at about $129,000. 23.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.