RF Industries (NASDAQ:RFIL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

RF Industries, Ltd. (NASDAQ:RFIL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.56 and traded as high as $4.25. RF Industries shares last traded at $4.25, with a volume of 48,424 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on RFIL shares. B. Riley raised their price objective on RF Industries from $4.25 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com began coverage on RF Industries in a report on Friday. They issued a “hold” rating for the company.

RF Industries Stock Performance

The business’s fifty day simple moving average is $3.84 and its 200 day simple moving average is $3.56. The stock has a market cap of $44.61 million, a price-to-earnings ratio of -5.45 and a beta of 0.99.

RF Industries (NASDAQ:RFIL) last announced its earnings results on Monday, September 16th. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $16.84 million for the quarter, compared to analysts’ expectations of $17.84 million. RF Industries had a negative return on equity of 4.28% and a negative net margin of 11.58%. As a group, analysts forecast that RF Industries, Ltd. will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at RF Industries

In related news, Director Mark Keith Holdsworth purchased 8,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average price of $3.97 per share, for a total transaction of $34,936.00. Following the completion of the purchase, the director now owns 76,029 shares in the company, valued at approximately $301,835.13. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 29,844 shares of company stock valued at $119,361 in the last three months. Corporate insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On RF Industries

A hedge fund recently raised its stake in RF Industries stock. Dimensional Fund Advisors LP increased its position in shares of RF Industries, Ltd. (NASDAQ:RFIL) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,737 shares of the electronics maker’s stock after purchasing an additional 12,296 shares during the quarter. Dimensional Fund Advisors LP owned 2.15% of RF Industries worth $788,000 at the end of the most recent reporting period. 23.49% of the stock is owned by institutional investors.

RF Industries Company Profile

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.