RF Industries (NASDAQ:RFIL) Issues Earnings Results

RF Industries (NASDAQ:RFIL) issued its quarterly earnings data on Wednesday. The electronics maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11, FiscalAI reports. RF Industries had a negative net margin of 0.44% and a positive return on equity of 5.20%. The firm had revenue of $22.69 million for the quarter, compared to analysts’ expectations of $19.38 million.

RF Industries Stock Up 8.3%

NASDAQ:RFIL traded up $0.55 during trading hours on Wednesday, hitting $7.21. 648,870 shares of the stock were exchanged, compared to its average volume of 96,539. The company has a market capitalization of $76.91 million, a P/E ratio of -360.50 and a beta of 0.96. The company’s 50 day moving average is $6.18 and its two-hundred day moving average is $7.08. RF Industries has a twelve month low of $3.39 and a twelve month high of $9.56.

Hedge Funds Weigh In On RF Industries

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in RF Industries in the first quarter worth about $56,000. Vanguard Group Inc. grew its position in shares of RF Industries by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker’s stock worth $3,223,000 after buying an additional 20,536 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of RF Industries during the third quarter worth approximately $1,651,000. Bridgeway Capital Management LLC lifted its holdings in RF Industries by 38.1% in the third quarter. Bridgeway Capital Management LLC now owns 66,676 shares of the electronics maker’s stock valued at $549,000 after buying an additional 18,380 shares during the period. Finally, Two Sigma Investments LP bought a new position in RF Industries in the third quarter valued at approximately $169,000. Institutional investors own 23.49% of the company’s stock.

Wall Street Analysts Forecast Growth

RFIL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of RF Industries in a research report on Wednesday, October 8th. Zacks Research cut RF Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RF Industries has a consensus rating of “Hold” and a consensus price target of $9.25.

RF Industries Company Profile

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.