RF Industries, Ltd. (NASDAQ:RFIL – Get a rating) recorded a significant drop in short-term interest rates during the month of March. As of March 31, there was short interest totaling 2,600 shares, down 66.7% from the March 15 total of 7,800 shares. Based on an average daily trading volume of 13,400 shares, the short-term interest rate ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.
Several equity research analysts have recently commented on the company. B. Riley lowered his price target on RF Industries from $10.00 to $9.00 and set a “buy” rating on the stock in a Monday, March 14 report. StockNews.com assumed coverage on RF Industries in a Monday, April 11 report. They have placed a “holding” rating on the stock. To finish, Zacks Investment Research upgraded RF Industries from a “hold” rating to a “buy” rating and set a target price of $8.00 on the stock in a Friday, March 18 report.
Action RF Industries opened at $6.85 on Friday. The company has a market capitalization of $69.19 million, a price-earnings ratio of 11.05 and a beta of 1.14. RF Industries has a 1-year low of $6.10 and a 1-year high of $9.63. The company’s 50-day moving average price is $7.03 and its two-hundred-day moving average price is $7.32.
RF Industries (NASDAQ:RFIL – Get a rating) last released its quarterly results on Thursday, March 17. The electronics maker reported earnings per share (EPS) of $0.04 for the quarter, beating Thomson Reuters consensus estimate of $0.01 by $0.03. The company posted revenue of $16.92 million for the quarter, versus analyst estimates of $15.84 million. RF Industries achieved a net margin of 9.82% and a return on equity of 5.95%. In the same quarter a year earlier, the company posted ($0.04) earnings per share. Analysts predict that RF Industries will post EPS of 0.32 for the current fiscal year.
In other RF Industries news, Director Mark Keith Holdsworth bought 50,000 shares of the company in a trade dated Tuesday, March 29. The shares were purchased at an average price of $7.20 per share, with a total value of $360,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Insiders hold 10.20% of the shares of the company.
Institutional investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its position in RF Industries by 22,258.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 10,732 shares of the electronics maker worth $87,000 after buying an additional 10,684 shares last quarter. Citadel Advisors LLC increased its position in RF Industries by 323.8% during the third quarter. Citadel Advisors LLC now owns 25,517 shares of the electronics maker worth $206,000 after buying 36,917 additional shares last quarter. Essex Investment Management Co. LLC bought a new position in RF Industries during Q3 for a value of approximately $382,000. Geode Capital Management LLC increased its position in RF Industries by 16.6% in the third quarter. Geode Capital Management LLC now owns 69,052 shares of the electronics maker worth $557,000 after buying 9,848 additional shares last quarter. Finally, BlackRock Inc. increased its position in RF Industries by 20.3% in the third quarter. BlackRock Inc. now owns 143,497 shares of the electronics maker worth $1,170,000 after buying an additional 24,166 shares last quarter. Hedge funds and other institutional investors hold 37.68% of the company’s shares.
About RF Industries (Get a rating)
RF Industries Ltd. is engaged in the manufacture and marketing of interconnect products and systems. It operates through the segments of RF connectors and cable assembly and custom cabling manufacturing and assembly. The RF Connectors and Cable Assemblies segment designs, manufactures, markets and distributes a wide range of connector and cable products, including coaxial connectors and cable assemblies integrated with coaxial connectors, used in telecommunications, information technology, OEM markets and other end products. markets.
Get news and reviews for RF Industries Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst assessments for RF Industries and related companies with MarketBeat.com’s free daily email newsletter.