Short Interest in RF Industries, Ltd. (NASDAQ:RFIL) Decreases By 64.4%

RF Industries, Ltd. (NASDAQ:RFIL) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 24,900 shares, a drop of 64.4% from the January 31st total of 70,000 shares. Based on an average daily volume of 31,700 shares, the short-interest ratio is currently 0.8 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of RF Industries

A hedge fund recently raised its stake in RF Industries stock. Geode Capital Management LLC increased its stake in RF Industries, Ltd. (NASDAQ:RFIL) by 13.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,846 shares of the electronics maker’s stock after acquiring an additional 9,863 shares during the period. Geode Capital Management LLC owned about 0.80% of RF Industries worth $342,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.49% of the company’s stock.

RF Industries Stock Performance

RF Industries stock traded down $0.24 during midday trading on Friday, reaching $4.38. 38,354 shares of the stock were exchanged, compared to its average volume of 46,368. RF Industries has a 52 week low of $2.86 and a 52 week high of $5.77. The firm has a market cap of $46.18 million, a PE ratio of -6.95 and a beta of 1.01. The company’s fifty day moving average is $4.55 and its 200-day moving average is $4.16.

RF Industries (NASDAQ:RFIL) last released its quarterly earnings results on Thursday, January 16th. The electronics maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). RF Industries had a negative return on equity of 3.06% and a negative net margin of 10.18%. On average, sell-side analysts anticipate that RF Industries will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on RF Industries in a report on Sunday. They set a “hold” rating on the 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.