RF Industries, Ltd. (NASDAQ:RFIL) Short Interest Down 51.3% in January

RF Industries, Ltd. (NASDAQ:RFIL) saw a large 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. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 323,222 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 323,222 shares, the short-interest ratio is currently 0.2 days. Approximately 0.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

RF Industries Price Performance

RFIL traded down $0.24 on Thursday, reaching $11.28. The company’s stock had a trading volume of 52,106 shares, compared to its average volume of 286,849. RF Industries has a 1 year low of $3.39 and a 1 year high of $12.24. The business’s 50 day moving average is $7.86 and its 200 day moving average is $7.54. The stock has a market cap of $120.81 million, a price-to-earnings ratio of 564.28 and a beta of 1.01.

RF Industries (NASDAQ:RFIL) last announced 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. RF Industries had a net margin of 0.09% and a return on equity of 10.08%. The business had revenue of $22.69 million during the quarter, compared to the consensus estimate of $19.38 million. As a group, research analysts forecast that RF Industries will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RF Industries

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of RF Industries during the third quarter worth about $44,000. Heron Bay Capital Management acquired a new position in RF Industries during the 2nd quarter valued at about $67,000. PFG Investments LLC bought a new position in RF Industries in the 4th quarter worth about $64,000. Goldman Sachs Group Inc. acquired a new stake in shares of RF Industries in the first quarter valued at approximately $56,000. Finally, Bailard Inc. acquired a new stake in shares of RF Industries in the third quarter valued at approximately $129,000. 23.49% of the stock is currently owned by institutional investors.

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.