RF Industries, Ltd. (NASDAQ:RFIL) Short Interest Up 335.6% in June

RF Industries, Ltd. (NASDAQ:RFIL) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 483,618 shares, a growth of 335.6% from the June 15th total of 111,029 shares. Based on an average daily trading volume, of 564,512 shares, the days-to-cover ratio is presently 0.9 days. Approximately 5.5% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on RFIL shares. Wall Street Zen raised shares of RF Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Zacks Research downgraded RF Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings upgraded RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, B. Riley Financial boosted their price objective on RF Industries from $11.25 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RF Industries currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Institutional Trading of RF Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management raised its stake in shares of RF Industries by 68.0% in the fourth quarter. Ritholtz Wealth Management now owns 153,888 shares of the electronics maker’s stock valued at $889,000 after purchasing an additional 62,279 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in RF Industries by 9.2% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 877,150 shares of the electronics maker’s stock worth $5,070,000 after buying an additional 74,091 shares in the last quarter. Bailard Inc. boosted its stake in RF Industries by 133.0% during the fourth quarter. Bailard Inc. now owns 36,625 shares of the electronics maker’s stock worth $212,000 after buying an additional 20,908 shares in the last quarter. PFG Investments LLC bought a new stake in RF Industries in the 4th quarter valued at $64,000. Finally, Trexquant Investment LP bought a new stake in RF Industries in the 4th quarter valued at $128,000. 23.49% of the stock is currently owned by institutional investors.

RF Industries Price Performance

Shares of NASDAQ RFIL traded down $1.67 during mid-day trading on Monday, hitting $15.76. The company had a trading volume of 380,527 shares, compared to its average volume of 417,243. The business’s 50-day simple moving average is $17.91 and its 200-day simple moving average is $13.09. RF Industries has a 12 month low of $5.54 and a 12 month high of $22.30. The firm has a market cap of $171.00 million, a P/E ratio of 112.58 and a beta of 1.27.

RF Industries (NASDAQ:RFIL) last released its earnings results on Monday, June 15th. The electronics maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $20.69 million for the quarter, compared to the consensus estimate of $19.67 million. RF Industries had a return on equity of 12.79% and a net margin of 1.70%. As a group, sell-side analysts predict that RF Industries will post 0.59 EPS for the current year.

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.