RF Industries (NASDAQ:RFIL) Stock Passes Above 200 Day Moving Average – Here’s Why

RF Industries, Ltd. (NASDAQ:RFIL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.46 and traded as high as $10.19. RF Industries shares last traded at $9.66, with a volume of 88,311 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RFIL shares. B. Riley reaffirmed a “buy” rating on shares of RF Industries in a research note on Thursday, January 15th. Zacks Research upgraded RF Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings raised shares of RF Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.25.

RF Industries Trading Down 5.8%

The firm has a market cap of $103.46 million, a P/E ratio of 483.24 and a beta of 1.01. The firm has a 50-day simple moving average of $7.43 and a 200-day simple moving average of $7.46.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings results on Wednesday, January 14th. The electronics maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.09 by $0.11. RF Industries had a net margin of 0.09% and a return on equity of 10.08%. The business had revenue of $22.69 million during the quarter, compared to analyst estimates of $19.38 million. Research analysts predict that RF Industries, Ltd. will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RF Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of RF Industries in the 1st quarter valued at $56,000. Heron Bay Capital Management purchased a new position in shares of RF Industries in the second quarter worth about $67,000. Global Retirement Partners LLC acquired a new stake in shares of RF Industries during the third quarter worth about $44,000. Ritholtz Wealth Management purchased a new stake in RF Industries in the third quarter valued at approximately $754,000. Finally, AMH Equity Ltd acquired a new position in RF Industries in the 3rd quarter worth approximately $1,843,000. 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.