RF Industries (NASDAQ:RFIL) Earns Buy Rating from Analysts at Wall Street Zen

Wall Street Zen started coverage on shares of RF Industries (NASDAQ:RFIL) in a report released on Thursday. The firm issued a buy rating on the electronics maker’s stock.

RF Industries Stock Performance

RFIL opened at $4.27 on Thursday. RF Industries has a one year low of $3.15 and a one year high of $5.77. The stock has a market capitalization of $45.56 million, a P/E ratio of -6.78 and a beta of 0.59. The business’s 50-day simple moving average is $4.12 and its 200-day simple moving average is $4.25.

Insider Activity

In related news, Director Mark Keith Holdsworth purchased 15,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $4.72 per share, with a total value of $70,800.00. Following the completion of the acquisition, the director now directly owns 106,953 shares in the company, valued at $504,818.16. This represents a 16.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of RF Industries

A number of hedge funds have recently added to or reduced their stakes in RFIL. Wealthedge Investment Advisors LLC raised its stake in shares of RF Industries by 171.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 58,537 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 36,942 shares during the last quarter. Bailard Inc. acquired a new position in RF Industries in the 1st quarter valued at $126,000. Goldman Sachs Group Inc. purchased a new position in RF Industries during the 1st quarter worth $56,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RF Industries by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 231,733 shares of the electronics maker’s stock worth $906,000 after acquiring an additional 2,062 shares during the period. 23.49% of the stock is 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, Italy, Mexico, and internationally. The company operates through two segments, RF Connector and Cable Assembly, and Custom Cabling Manufacturing and Assembly.