RF Industries (NASDAQ:RFIL) Share Price Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• RF Industries shares fell below their 200-day moving average, trading as low as $7.72 and last changing hands at $7.92, compared with the 200-day average of $13.77.
• Analyst sentiment remains cautiously positive: the stock has an average “Moderate Buy” rating and a $14.50 consensus price target, although some analysts downgraded their ratings or lowered targets.
• In its latest quarter, RF Industries reported $0.19 in EPS, slightly below the $0.20 estimate, while revenue of $23.96 million exceeded expectations; institutional investors own 23.49% of the company.

RF Industries, Ltd. (NASDAQ:RFIL - Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $13.77 and traded as low as $7.72. RF Industries shares last traded at $7.92, with a volume of 585,124 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen cut RF Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. B. Riley Financial lowered their price objective on RF Industries from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, September 15th. Zacks Research cut shares of RF Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Weiss Ratings raised shares of RF Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 25th. Finally, Lake Street Capital decreased their price target on shares of RF Industries from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, September 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, RF Industries presently has an average rating of "Moderate Buy" and an average target price of $14.50.

RF Industries Trading Up 1.4%

The firm has a market capitalization of $85.92 million, a P/E ratio of 36.00 and a beta of 1.29. The business's 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $13.77.

RF Industries (NASDAQ:RFIL - Get Free Report) last issued its earnings results on Monday, September 14th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). RF Industries had a return on equity of 15.32% and a net margin of 2.83%.The firm had revenue of $23.96 million during the quarter, compared to analysts' expectations of $23.28 million. Analysts predict that RF Industries, Ltd. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On RF Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RFIL. Punch & Associates Investment Management Inc. boosted its stake in RF Industries by 9.2% during the 4th 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 during the last quarter. Sei Investments Co. lifted its holdings in shares of RF Industries by 257.2% during the first quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker's stock valued at $866,000 after purchasing an additional 60,503 shares in the last quarter. Walleye Capital LLC bought a new position in shares of RF Industries during the first quarter valued at $731,000. Engineers Gate Manager LP boosted its position in shares of RF Industries by 28.4% during the second quarter. Engineers Gate Manager LP now owns 21,248 shares of the electronics maker's stock valued at $451,000 after buying an additional 4,697 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of RF Industries by 519.3% during the first quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker's stock valued at $213,000 after buying an additional 17,302 shares during the last quarter. 23.49% of the stock is owned by institutional investors.

About RF Industries

RF Industries, Ltd. NASDAQ: RFIL designs, manufactures and distributes products used to build and maintain wireless communications and broadband infrastructure. Its offerings support cellular, telecommunications, public safety, data communications and other radio-frequency applications.

The company's product portfolio includes RF connectors, coaxial cable assemblies, jumper cables, antennas, power-distribution equipment, enclosures and other infrastructure components. RF Industries also provides integrated systems and custom-engineered solutions for communications networks, including products used in wireless base stations, distributed antenna systems and in-building coverage applications.

RF Industries serves telecommunications carriers, wireless infrastructure providers, original equipment manufacturers, value-added distributors, government agencies and other industrial customers.

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