RF Industries (NASDAQ:RFIL) Downgraded to Hold Rating 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.

RF Industries (NASDAQ:RFIL - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

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

RF Industries Stock Performance

NASDAQ:RFIL opened at $6.3980 on Monday. The firm has a market cap of $68.33 million, a PE ratio of -49.68 and a beta of 0.82. RF Industries has a fifty-two week low of $3.36 and a fifty-two week high of $9.21. The business has a 50 day moving average price of $6.73 and a 200-day moving average price of $5.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RFIL. Wealthedge Investment Advisors LLC lifted its position in shares of 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 buying an additional 36,942 shares in the last quarter. Bailard Inc. purchased a new position in shares of RF Industries during the 1st quarter valued at about $126,000. Goldman Sachs Group Inc. bought a new stake in RF Industries during the 1st quarter valued at approximately $56,000. Heron Bay Capital Management bought a new stake in RF Industries during the 2nd quarter valued at approximately $67,000. 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 purchasing an additional 2,062 shares during the period. 23.49% of the stock is owned by hedge funds and other 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.

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