RF Industries (NASDAQ:RFIL) Issues Earnings Results

Key Points

• RF Industries reported quarterly earnings of $0.09 per share, exceeding the consensus estimate of $0.06, indicating better-than-expected performance.
• The company's stock saw a significant increase of 11.1% following the earnings report, reaching a trading price of $8.53.
• Goldman Sachs recently acquired a new position in RF Industries, purchasing approximately 11,991 shares valued at around $56,000, reflecting growing institutional interest in the company.

RF Industries (NASDAQ:RFIL - Get Free Report) issued its quarterly earnings results on Thursday. The electronics maker reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03, Zacks reports. RF Industries had a positive return on equity of 1.63% and a negative net margin of 1.95%.

RF Industries Stock Up 11.1%

RFIL traded up $0.85 during trading on Thursday, hitting $8.53. 661,073 shares of the company's stock were exchanged, compared to its average volume of 89,016. RF Industries has a fifty-two week low of $3.39 and a fifty-two week high of $9.21. The stock has a market cap of $91.10 million, a P/E ratio of -65.62 and a beta of 0.88. The business's 50 day moving average is $7.27 and its two-hundred day moving average is $5.35.

Hedge Funds Weigh In On RF Industries

An institutional investor recently bought a new position in RF Industries stock. Goldman Sachs Group Inc. bought a new stake in RF Industries, Ltd. (NASDAQ:RFIL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,991 shares of the electronics maker's stock, valued at approximately $56,000. Goldman Sachs Group Inc. owned approximately 0.11% of RF Industries as of its most recent SEC filing. Hedge funds and other institutional investors own 23.49% of the company's stock.

Analyst Upgrades and Downgrades

RFIL has been the topic of a number of research reports. Zacks Research downgraded shares of RF Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of 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 issued a Hold rating to the stock. According to MarketBeat, RF Industries currently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

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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