RF Industries (NASDAQ:RFIL) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• RF Industries shares crossed above their 200-day moving average of $5.09, reaching a high of $7.34 during trading.
• Wall Street Zen has upgraded RF Industries to a "strong-buy" rating, reflecting confidence in the stock's potential.
• Institutional investors and hedge funds collectively own 23.49% of RF Industries, indicating a growing interest in the company's stock.

RF Industries, Ltd. (NASDAQ:RFIL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.09 and traded as high as $7.34. RF Industries shares last traded at $7.23, with a volume of 113,863 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of RF Industries to a "strong-buy" rating in a report on Friday, July 18th.

RF Industries Stock Down 2.2%

The firm's 50-day moving average price is $6.61 and its 200 day moving average price is $5.15. The firm has a market cap of $74.76 million, a P/E ratio of -53.85 and a beta of 0.82.

Hedge Funds Weigh In On RF Industries

Institutional investors have recently modified their holdings of the company. Wealthedge Investment Advisors LLC grew its position in shares of RF Industries by 171.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 58,537 shares of the electronics maker's stock worth $275,000 after acquiring an additional 36,942 shares during the last quarter. Bailard Inc. bought a new position in shares of RF Industries during the first quarter worth about $126,000. Goldman Sachs Group Inc. bought a new position in shares of RF Industries during the first quarter worth about $56,000. Heron Bay Capital Management bought a new position in shares of RF Industries during the second quarter worth about $67,000. Finally, Dimensional Fund Advisors LP grew its position in shares of RF Industries by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 231,733 shares of the electronics maker's stock worth $906,000 after acquiring an additional 2,062 shares during the last quarter. 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.