Short Interest in RF Industries, Ltd. (NASDAQ:RFIL) Increases By 335.6%

Key Points

• Short interest in RF Industries surged to 483,618 shares as of June 30, up 335.6% from mid-June, representing about 5.5% of the float. The short-interest ratio remains relatively low at 0.9 days based on average trading volume.
• RF Industries posted better-than-expected quarterly results, reporting earnings of $0.14 per share versus the $0.09 consensus and revenue of $20.69 million versus $19.67 million expected. Analysts currently see the company earning 0.59 EPS for the full fiscal year.
• Wall Street sentiment is mixed but centered on Hold, with the stock carrying an average Hold rating and a consensus price target of $18.00. Recent moves include a ratings upgrade from Wall Street Zen and a higher target from B. Riley Financial.

RF Industries, Ltd. (NASDAQ:RFIL - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 483,618 shares, an increase of 335.6% from the June 15th total of 111,029 shares. Based on an average daily trading volume, of 564,512 shares, the short-interest ratio is presently 0.9 days. Approximately 5.5% of the shares of the stock are short sold.

RF Industries Stock Performance

NASDAQ:RFIL traded up $0.57 during midday trading on Friday, reaching $17.43. 209,763 shares of the stock traded hands, compared to its average volume of 416,940. The stock has a market capitalization of $189.12 million, a P/E ratio of 124.51 and a beta of 1.27. The company has a fifty day moving average of $17.88 and a 200 day moving average of $12.98. RF Industries has a 12 month low of $5.54 and a 12 month high of $22.30.

RF Industries (NASDAQ:RFIL - Get Free Report) last issued its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $19.67 million. RF Industries had a return on equity of 12.79% and a net margin of 1.70%. On average, analysts predict that RF Industries will post 0.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on RFIL. Wall Street Zen raised shares of RF Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 20th. Zacks Research cut RF Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. B. Riley Financial raised their price target on RF Industries from $11.25 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised RF Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RFIL. Bank of America Corp DE raised its holdings in RF Industries by 519.3% in the 1st quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker's stock worth $213,000 after acquiring an additional 17,302 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of RF Industries in the first quarter worth $131,000. Sei Investments Co. lifted its holdings in shares of RF Industries by 257.2% during the first quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker's stock valued at $866,000 after purchasing an additional 60,503 shares in the last quarter. Walleye Capital LLC bought a new position in shares of RF Industries during the first quarter valued at $731,000. Finally, XTX Topco Ltd boosted its position in shares of RF Industries by 26.9% during the fourth quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker's stock valued at $146,000 after buying an additional 5,350 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company's stock.

About RF Industries

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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