RF Industries (NASDAQ:RFIL) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

RF Industries, Ltd. (NASDAQ:RFIL) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 Analysts Forecast Growth

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

RF Industries Trading Up 7.4%

The firm has a 50-day moving average of $13.14 and a 200-day moving average of $9.89. The stock has a market capitalization of $189.93 million, a price-to-earnings ratio of 439.36 and a beta of 1.25.

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, beating the consensus estimate of $0.03 by $0.03. RF Industries had a return on equity of 10.54% and a net margin of 0.34%.The firm had revenue of $18.97 million for the quarter, compared to the consensus estimate of $18.72 million. On average, equities research analysts anticipate that RF Industries, Ltd. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On RF Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in RF Industries in the 1st quarter worth approximately $56,000. PFG Investments LLC acquired a new position in RF Industries in the 4th quarter worth approximately $64,000. Heron Bay Capital Management increased its holdings in RF Industries by 26.1% in the 3rd quarter. Heron Bay Capital Management now owns 13,117 shares of the electronics maker’s stock worth $108,000 after buying an additional 2,711 shares during the period. Trexquant Investment LP acquired a new position in RF Industries in the 4th quarter worth approximately $128,000. Finally, Bailard Inc. acquired a new position in RF Industries in the 3rd quarter worth approximately $129,000. Institutional investors and hedge funds 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.