Short Interest in RF Industries, Ltd. (NASDAQ:RFIL) Grows By 335.6%

RF Industries, Ltd. (NASDAQ:RFIL) was the recipient of a significant 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 trading volume of 564,512 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.5% of the company’s shares are short sold.

RF Industries Trading Up 2.8%

Shares of NASDAQ RFIL opened at $16.20 on Tuesday. RF Industries has a 12-month low of $5.54 and a 12-month high of $22.30. The company has a market cap of $175.81 million, a P/E ratio of 116.38 and a beta of 1.27. The stock has a fifty day moving average price of $17.91 and a 200 day moving average price of $13.09.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $19.67 million. RF Industries had a return on equity of 12.79% and a net margin of 1.70%. On average, sell-side analysts forecast that RF Industries will post 0.59 EPS for the current fiscal year.

Institutional Trading of RF Industries

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of RF Industries by 519.3% in the first quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker’s stock valued at $213,000 after purchasing an additional 17,302 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in RF Industries during the 1st quarter worth $131,000. Sei Investments Co. lifted its holdings in RF Industries by 257.2% in the 1st quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker’s stock worth $866,000 after buying an additional 60,503 shares in the last quarter. Walleye Capital LLC acquired a new position in RF Industries in the 1st quarter worth $731,000. Finally, XTX Topco Ltd boosted its position in RF Industries by 26.9% in the 4th quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker’s stock valued at $146,000 after buying an additional 5,350 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.

Analyst Upgrades and Downgrades

RFIL has been the subject of several research analyst reports. Weiss Ratings upgraded RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Zacks Research cut RF Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. B. Riley Financial increased their target price on shares of RF Industries from $11.25 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of RF Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Three research 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 target price of $18.00.

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.