RF Industries (NASDAQ:RFIL) Share Price Passes Below 200-Day Moving Average – Here’s Why

RF Industries, Ltd. (NASDAQ:RFIL) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.38 and traded as low as $12.84. RF Industries shares last traded at $13.03, with a volume of 197,904 shares traded.

Analyst Ratings Changes

RFIL has been the subject of several analyst reports. B. Riley Financial upped their target price on RF Industries from $11.25 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Weiss Ratings upgraded shares of RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, 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. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

RF Industries Price Performance

The firm has a market cap of $141.38 million, a PE ratio of 93.08 and a beta of 1.27. The business has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $13.38.

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

Institutional Trading of RF Industries

Several institutional investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. grew its position 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 valued at $5,070,000 after purchasing an additional 74,091 shares in the last quarter. Vanguard Group Inc. increased its stake in RF Industries by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker’s stock valued at $3,223,000 after buying an additional 20,536 shares during the period. Dimensional Fund Advisors LP lifted its position in RF Industries by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 241,657 shares of the electronics maker’s stock worth $1,397,000 after buying an additional 13,349 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in RF Industries by 58.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 212,439 shares of the electronics maker’s stock worth $1,228,000 after buying an additional 78,144 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of RF Industries during the 3rd quarter valued at $1,651,000. 23.49% of the stock is currently owned by institutional investors and hedge funds.

About RF Industries

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.