RF Industries, Ltd. (NASDAQ:RFIL) Short Interest Update

Key Points

• RF Industries experienced a significant 30.4% decline in short interest from August 15th to August 31st, with current short interest at 42,400 shares.
• The company's stock price increased by 2.6% to $7.34 per share, accompanied by a recent upgrade to a "strong-buy" rating from Wall Street Zen.
• Institutional investors hold 23.49% of RF Industries' stock, with several large firms making new positions in the company over recent quarters.

RF Industries, Ltd. (NASDAQ:RFIL - Get Free Report) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 42,400 shares, a decline of 30.4% from the August 15th total of 60,900 shares. Currently, 0.5% of the company's shares are short sold. Based on an average daily volume of 166,500 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 166,500 shares, the short-interest ratio is currently 0.3 days. Currently, 0.5% of the company's shares are short sold.

RF Industries Trading Up 2.6%

Shares of RFIL stock traded up $0.19 during trading hours on Tuesday, reaching $7.34. 14,762 shares of the company's stock were exchanged, compared to its average volume of 92,539. The stock's 50 day moving average is $7.33 and its 200-day moving average is $5.43. The company has a market cap of $78.26 million, a price-to-earnings ratio of -370.50 and a beta of 0.88. RF Industries has a fifty-two week low of $3.39 and a fifty-two week high of $9.21.

Analyst Ratings Changes

A number of brokerages recently issued reports on RFIL. Wall Street Zen upgraded RF Industries to a "strong-buy" rating in a report on Friday, July 18th. Zacks Research downgraded shares of RF Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, B. Riley boosted their price objective on shares of RF Industries from $6.25 to $9.25 and gave the stock a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.25.

Hedge Funds Weigh In On RF Industries

Large investors have recently made changes to their positions in the business. Heron Bay Capital Management acquired a new position in shares of RF Industries during the second quarter worth $67,000. Goldman Sachs Group Inc. acquired a new position in shares of RF Industries in the 1st quarter valued at $56,000. Wealthedge Investment Advisors LLC acquired a new position in shares of RF Industries in the 4th quarter valued at $84,000. Finally, Bailard Inc. acquired a new position in shares of RF Industries in the 1st quarter valued at $126,000. 23.49% of the stock is owned by institutional investors and hedge funds.

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.

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