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

Key Points

• Short interest surged 71.6% to 110,279 shares as of March 31, representing about 1.3% of shares outstanding and a very low short-interest ratio of 0.3 days.
• The company beat earnings and revenue estimates (EPS $0.06 vs. $0.03 expected; revenue $18.97M) but reported thin profitability (net margin 0.34%) and a high P/E of ~298.6.
• Analyst sentiment is muted with a consensus "Hold" rating and $11.25 average target, while institutional ownership sits at 23.49% after several managers established new stakes.

RF Industries, Ltd. (NASDAQ:RFIL - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 110,279 shares, an increase of 71.6% from the March 15th total of 64,259 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 407,262 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of RF Industries

Large investors have recently made changes to their positions in the business. AMH Equity Ltd purchased a new stake in shares of RF Industries in the 3rd quarter valued at $1,843,000. Ritholtz Wealth Management purchased a new stake in shares of RF Industries in the 3rd quarter valued at $754,000. Huntleigh Advisors Inc. purchased a new stake in shares of RF Industries in the 3rd quarter valued at $678,000. Two Sigma Investments LP purchased a new stake in shares of RF Industries in the 3rd quarter valued at $169,000. Finally, Man Group plc purchased a new stake in shares of RF Industries in the 4th quarter valued at $154,000. 23.49% of the stock is owned by hedge funds and other institutional investors.

RF Industries Price Performance

NASDAQ:RFIL traded up $0.07 during trading hours on Monday, hitting $11.90. 24,376 shares of the company were exchanged, compared to its average volume of 266,106. The company's 50 day moving average price is $10.98 and its 200-day moving average price is $8.62. The stock has a market capitalization of $128.69 million, a price-to-earnings ratio of 298.55 and a beta of 1.02. RF Industries has a 52-week low of $3.75 and a 52-week high of $13.54.

RF Industries (NASDAQ:RFIL - Get Free Report) last released its quarterly earnings data on Monday, March 16th. The electronics maker reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $18.97 million for the quarter, compared to the consensus estimate of $18.72 million. RF Industries had a net margin of 0.34% and a return on equity of 10.54%. On average, equities analysts predict that RF Industries will post 0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RFIL shares. Wall Street Zen downgraded shares of RF Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 28th. Weiss Ratings raised shares of RF Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Zacks Research downgraded shares of RF Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, B. Riley Financial boosted their target price on shares of RF Industries from $10.25 to $11.25 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $11.25.

RF Industries Company Profile

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.

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