RF Industries, Ltd. (NASDAQ:RFIL) Sees Significant Drop in Short Interest

RF Industries, Ltd. (NASDAQ:RFIL) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 15,600 shares, a decline of 23.2% from the December 15th total of 20,300 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 10,200 shares, the days-to-cover ratio is currently 1.5 days.

RF Industries Price Performance

RF Industries stock traded up $0.17 during mid-day trading on Wednesday, reaching $4.11. 15,014 shares of the company traded hands, compared to its average volume of 8,090. The firm’s fifty day moving average is $4.00 and its two-hundred day moving average is $3.94. The company has a market capitalization of $43.13 million, a price-to-earnings ratio of -5.96 and a beta of 0.99. RF Industries has a fifty-two week low of $2.84 and a fifty-two week high of $4.65.

Hedge Funds Weigh In On RF Industries

An institutional investor recently raised its position in RF Industries stock. Geode Capital Management LLC raised its position in shares of RF Industries, Ltd. (NASDAQ:RFIL) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,846 shares of the electronics maker’s stock after purchasing an additional 9,863 shares during the quarter. Geode Capital Management LLC owned 0.80% of RF Industries worth $342,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RFIL. B. Riley increased their price objective on RF Industries from $4.25 to $4.50 and gave the company a “buy” rating in a report on Tuesday, September 17th. StockNews.com began coverage on RF Industries in a report on Monday. They issued a “hold” rating for the company.

About RF Industries

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.