RF Industries, Ltd. (NASDAQ:RFIL) Short Interest Update

RF Industries, Ltd. (NASDAQ:RFIL) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 27,500 shares, a decline of 35.4% from the August 15th total of 42,600 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is currently 0.5 days.

Shares of NASDAQ RFIL traded up $0.29 on Monday, hitting $8.19. The company’s stock had a trading volume of 25,019 shares, compared to its average volume of 68,467. RF Industries has a 12-month low of $4.17 and a 12-month high of $9.63. The company has a market capitalization of $82.24 million, a price-to-earnings ratio of 18.20 and a beta of 1.10. The stock has a 50 day moving average of $8.52 and a 200-day moving average of $7.48.

RF Industries (NASDAQ:RFIL) last announced its quarterly earnings results on Sunday, September 12th. The electronics maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. RF Industries had a net margin of 10.96% and a negative return on equity of 0.42%. On average, sell-side analysts forecast that RF Industries will post 0.12 earnings per share for the current fiscal year.

In other news, Director Mark Keith Holdsworth purchased 11,930 shares of the company’s stock in a transaction dated Thursday, July 8th. The shares were acquired at an average cost of $7.39 per share, for a total transaction of $88,162.70. Following the completion of the purchase, the director now directly owns 5,174 shares in the company, valued at approximately $38,235.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward Joseph Benoit sold 8,827 shares of the business’s stock in a transaction dated Wednesday, June 23rd. The stock was sold at an average price of $8.00, for a total transaction of $70,616.00. Following the transaction, the director now owns 53,567 shares in the company, valued at $428,536. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in shares of RF Industries during the first quarter valued at approximately $73,000. Marshall Wace North America L.P. purchased a new position in shares of RF Industries during the second quarter valued at approximately $91,000. Marshall Wace LLP purchased a new position in shares of RF Industries during the second quarter valued at approximately $117,000. State Street Corp purchased a new position in shares of RF Industries during the second quarter valued at approximately $197,000. Finally, Aristides Capital LLC purchased a new position in shares of RF Industries during the second quarter valued at approximately $203,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

RFIL has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of RF Industries from a “hold” rating to a “sell” rating in a report on Saturday. B. Riley upped their price target on shares of RF Industries from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, September 14th.

RF Industries Company Profile

RF Industries Ltd. engages in the manufacture and market of interconnect products and systems. It operates through the RF Connector and Cable Assembly; and Custom Cabling Manufacturing and Assembly segments. The RF Connector and Cable Assembly segment designs, manufactures, markets and distributes a broad range of connector and cable products, including coaxial connectors and cable assemblies that are integrated with coaxial connectors, used in telecommunications, information technology, OEM markets, and other end markets.

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