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

RF Industries, Ltd. (NASDAQ:RFIL) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 27,800 shares, a drop of 25.9% from the January 15th total of 37,500 shares. Based on an average daily volume of 27,700 shares, the short-interest ratio is presently 1.0 days. Currently, 0.3% of the company’s shares are sold short.

Separately, B. Riley started coverage on shares of RF Industries in a research report on Wednesday, January 29th. They issued a “buy” rating and a $9.00 target price on the stock.

Shares of RFIL traded down $0.08 during mid-day trading on Friday, hitting $6.92. The company had a trading volume of 2,579 shares, compared to its average volume of 31,967. The business’s 50-day simple moving average is $6.44 and its 200-day simple moving average is $6.77. RF Industries has a 1-year low of $5.25 and a 1-year high of $8.89. The stock has a market cap of $61.27 million, a PE ratio of 18.70 and a beta of 0.28.

RF Industries (NASDAQ:RFIL) last released its earnings results on Wednesday, December 18th. The electronics maker reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. RF Industries had a net margin of 6.36% and a return on equity of 11.69%. The business had revenue of $15.54 million for the quarter. Research analysts forecast that RF Industries will post 0.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.02 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.08 annualized dividend and a dividend yield of 1.16%. RF Industries’s dividend payout ratio is presently 22.22%.

In related news, CFO Mark Turfler sold 9,602 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.33, for a total value of $60,780.66. Following the sale, the chief financial officer now directly owns 11,893 shares of the company’s stock, valued at $75,282.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard F. Hill sold 28,879 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $6.03, for a total transaction of $174,140.37. Following the completion of the sale, the director now directly owns 256,370 shares in the company, valued at $1,545,911.10. The disclosure for this sale can be found here. Insiders have sold a total of 43,879 shares of company stock worth $269,474 over the last ninety days. 8.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RFIL. BlackRock Inc. boosted its position in shares of RF Industries by 4.5% in the second quarter. BlackRock Inc. now owns 165,728 shares of the electronics maker’s stock worth $1,400,000 after acquiring an additional 7,144 shares during the last quarter. Vanguard Group Inc. raised its holdings in RF Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 324,131 shares of the electronics maker’s stock valued at $2,736,000 after buying an additional 2,300 shares during the period. California Public Employees Retirement System raised its holdings in RF Industries by 5.8% in the third quarter. California Public Employees Retirement System now owns 124,100 shares of the electronics maker’s stock valued at $879,000 after buying an additional 6,800 shares during the period. Essex Investment Management Co. LLC raised its holdings in RF Industries by 3.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 54,810 shares of the electronics maker’s stock valued at $371,000 after buying an additional 1,932 shares during the period. Finally, THB Asset Management raised its holdings in RF Industries by 35.5% in the fourth quarter. THB Asset Management now owns 259,767 shares of the electronics maker’s stock valued at $1,756,000 after buying an additional 68,107 shares during the period. 32.90% of the stock is currently owned by institutional investors and hedge funds.

About RF Industries

RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Mexico, and internationally. The company's RF Connector and Cable Assembly division designs, manufactures, and distributes coaxial connectors and cable assemblies that are integrated with coaxial connectors.

See Also: Balance Sheet

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