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

RF Industries, Ltd. (NASDAQ:RFIL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.76 and traded as high as $18.30. RF Industries shares last traded at $17.01, with a volume of 287,089 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on RFIL. Wall Street Zen downgraded shares of RF Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research downgraded shares of RF Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. B. Riley Financial upped their price target on shares of RF Industries from $10.25 to $11.25 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of RF Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RF Industries presently has a consensus rating of “Reduce” and an average price target of $11.25.

RF Industries Trading Down 4.5%

The company has a market cap of $183.88 million, a PE ratio of 425.36 and a beta of 1.25. The business’s 50-day simple moving average is $12.88 and its 200-day simple moving average is $9.76.

RF Industries (NASDAQ:RFIL) last released its earnings results on Monday, March 16th. The electronics maker reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. RF Industries had a net margin of 0.34% and a return on equity of 10.54%. The company had revenue of $18.97 million during the quarter, compared to the consensus estimate of $18.72 million. On average, research analysts predict that RF Industries, Ltd. will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RF Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp acquired a new position in shares of RF Industries during the 1st quarter worth $131,000. Sei Investments Co. increased its stake in shares of RF Industries by 257.2% during the 1st quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker’s stock worth $866,000 after purchasing an additional 60,503 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of RF Industries during the 1st quarter worth $731,000. XTX Topco Ltd increased its stake in shares of RF Industries by 26.9% during the 4th quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker’s stock worth $146,000 after purchasing an additional 5,350 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of RF Industries during the 4th quarter worth $190,000. Hedge funds and other institutional investors own 23.49% of the company’s stock.

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.