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

RF Industries, Ltd. (NASDAQ:RFIL) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 12,800 shares, a decline of 32.3% from the February 28th total of 18,900 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 40,800 shares, the days-to-cover ratio is presently 0.3 days.

RF Industries Price Performance

NASDAQ RFIL traded up $0.15 on Monday, hitting $4.69. 27,518 shares of the company’s stock were exchanged, compared to its average volume of 21,404. The firm has a market cap of $50.04 million, a price-to-earnings ratio of -7.44 and a beta of 1.09. The firm’s 50-day moving average price is $4.70 and its two-hundred day moving average price is $4.25. RF Industries has a fifty-two week low of $2.86 and a fifty-two week high of $5.77.

RF Industries (NASDAQ:RFIL) last issued its earnings results on Thursday, January 16th. The electronics maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). RF Industries had a negative return on equity of 3.06% and a negative net margin of 10.18%. On average, research analysts predict that RF Industries will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RF Industries

Several hedge funds have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC purchased a new position in shares of RF Industries in the fourth quarter valued at $84,000. Geode Capital Management LLC grew its stake in RF Industries by 13.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,846 shares of the electronics maker’s stock valued at $342,000 after acquiring an additional 9,863 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RF Industries by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 231,733 shares of the electronics maker’s stock valued at $906,000 after acquiring an additional 2,062 shares in the last quarter. 23.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of RF Industries in a research note on Wednesday, March 26th. They issued a “hold” rating for the company.

RF Industries Company Profile

RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Italy, Mexico, and internationally. The company operates through two segments, RF Connector and Cable Assembly, and Custom Cabling Manufacturing and Assembly.