RF Industries (NASDAQ:RFIL) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of RF Industries, Ltd. (NASDAQ:RFIL) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.89 and traded as low as $5.73. RF Industries shares last traded at $5.80, with a volume of 14,682 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of RF Industries in a research report on Wednesday, October 8th. Zacks Research downgraded shares of RF Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, B. Riley boosted their price target on shares of RF Industries from $6.25 to $9.25 and gave the company a “buy” rating in a report on Monday, September 15th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, RF Industries presently has a consensus rating of “Hold” and an average target price of $9.25.

RF Industries Stock Down 1.0%

The company has a market cap of $61.87 million, a PE ratio of -290.00 and a beta of 0.95. The firm has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $6.89.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings results on Tuesday, May 23rd. The electronics maker reported $0.07 EPS for the quarter. RF Industries had a negative net margin of 0.44% and a positive return on equity of 5.20%. The business had revenue of $16.92 million during the quarter. As a group, equities analysts anticipate that RF Industries, Ltd. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On RF Industries

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in shares of RF Industries in the 1st quarter worth $56,000. Heron Bay Capital Management acquired a new stake in RF Industries in the second quarter worth about $67,000. Global Retirement Partners LLC purchased a new stake in shares of RF Industries during the third quarter worth about $44,000. Ritholtz Wealth Management acquired a new position in shares of RF Industries during the third quarter valued at about $754,000. Finally, AMH Equity Ltd purchased a new position in shares of RF Industries in the 3rd quarter valued at approximately $1,843,000. 23.49% of the stock is owned by institutional investors and hedge funds.

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.