RF Industries (NASDAQ:RFIL) Stock Crosses Below 200 Day Moving Average – Here’s Why

Shares of RF Industries, Ltd. (NASDAQ:RFIL) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.88 and traded as low as $3.76. RF Industries shares last traded at $3.83, with a volume of 16,772 shares.

Analysts Set New Price Targets

RFIL has been the subject of several analyst reports. StockNews.com initiated coverage on shares of RF Industries in a research note on Saturday. They issued a “hold” rating for the company. B. Riley raised their price target on RF Industries from $4.25 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, September 17th.

RF Industries Stock Down 1.3 %

The stock has a market capitalization of $40.19 million, a PE ratio of -5.55 and a beta of 0.99. The stock’s 50 day moving average price is $4.05 and its 200-day moving average price is $3.89.

Insiders Place Their Bets

In other news, Director Mark Keith Holdsworth bought 8,800 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $3.97 per share, with a total value of $34,936.00. Following the transaction, the director now directly owns 76,029 shares in the company, valued at approximately $301,835.13. This trade represents a 13.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased 29,624 shares of company stock worth $118,549 in the last three months. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of RF Industries

An institutional investor recently raised its position in RF Industries stock. Dimensional Fund Advisors LP grew its holdings in RF Industries, Ltd. (NASDAQ:RFIL) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 225,737 shares of the electronics maker’s stock after purchasing an additional 12,296 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.15% of RF Industries worth $788,000 at the end of the most recent reporting period. 23.49% of the stock is owned by institutional investors.

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.