RF Industries (NASDAQ:RFIL) Stock Rating Lowered by Zacks Research

Key Points

• RF Industries was downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a shift in analyst sentiment regarding the stock's performance.
• Despite the downgrade, Wall Street Zen has upgraded RF Industries to a "strong-buy," showcasing mixed analyst opinions with a consensus rating of "Moderate Buy" and an average target price of $4.50.
• Large investors have been actively changing their positions, with Wealthedge Investment Advisors recently increasing its stake by 171.1%, highlighting growing institutional interest in the company.

Zacks Research cut shares of RF Industries (NASDAQ:RFIL - Free Report) from a strong-buy rating to a hold rating in a research note published on Monday, August 18th,Zacks.com reports.

Separately, Wall Street Zen raised RF Industries to a "strong-buy" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RF Industries currently has a consensus rating of "Moderate Buy" and an average target price of $4.50.

RF Industries Stock Performance

Shares of NASDAQ RFIL traded down $0.0950 during trading on Monday, reaching $6.8350. The stock had a trading volume of 36,058 shares, compared to its average volume of 83,806. RF Industries has a fifty-two week low of $3.39 and a fifty-two week high of $9.21. The business's 50-day moving average price is $6.88 and its 200-day moving average price is $5.20. The company has a market cap of $73.00 million, a P/E ratio of -52.62 and a beta of 0.82.

Institutional Investors Weigh In On RF Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heron Bay Capital Management purchased a new stake in RF Industries in the second quarter valued at approximately $67,000. Goldman Sachs Group Inc. purchased a new stake in RF Industries during the 1st quarter valued at approximately $56,000. Wealthedge Investment Advisors LLC raised its stake in RF Industries by 171.1% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 58,537 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 36,942 shares during the last quarter. Bailard Inc. purchased a new stake in RF Industries during the 1st quarter valued at approximately $126,000. Finally, Dimensional Fund Advisors LP raised its stake in RF Industries by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 231,733 shares of the electronics maker's stock valued at $906,000 after acquiring an additional 2,062 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company's stock.

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.