RADA Electronic Industries Ltd. (NASDAQ:RADA – Get Rating) was the target of a sharp spike in short interest in June. As of June 15, there was short interest totaling 1,640,000 shares, an increase of 29.1% from May 31 of a total of 1,270,000 shares. Currently, 6.8% of the company’s shares are short. Based on an average trading volume of 649,900 shares, the days-to-cover ratio is currently 2.5 days.
Several research analysts have recently issued reports on RADA stock. Alliance Global Partners lowered its target price on RADA Electronic Industries from $14.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 10. TheStreet downgraded RADA Electronic Industries from a “b-” rating to a “c+” rating in a research report on Friday, June 3rd. StockNews.com began coverage of RADA Electronic Industries in a research report on Thursday, March 31st. They gave the company a “hold” rating. Finally, Canaccord Genuity Group raised its price target on RADA Electronic Industries to $19.00 from $14.00 and gave the company a buy rating in a research report on Tuesday, April 19. Two investment analysts have rated the stock with a hold rating and three with a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.50.
A number of institutional investors and hedge funds have recently bought and sold shares in the company. Advisor Group Holdings Inc. increased its stake in RADA Electronic Industries by 4.8% in the first quarter. Advisor Group Holdings Inc. now owns 21,083 shares of the aerospace company, valued at $293,000, after purchasing an additional 973 shares last quarter. Raymond James Financial Services Advisors Inc. increased its stake in RADA Electronic Industries by 11.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,483 shares of the $160,000 aerospace company after buying another 1,174 shares last quarter. Gagnon Securities LLC increased its stake in RADA Electronic Industries by 9.6% in the first quarter. Gagnon Securities LLC now owns 17,275 shares of the aerospace company, valued at $241,000, after purchasing an additional 1,509 shares last quarter. Total Clarity Wealth Management Inc. increased its stake in RADA Electronic Industries by 30.3% in the first quarter. Total Clarity Wealth Management Inc. now owns 10,510 shares of the aerospace company, valued at $146,000, after purchasing an additional 2,447 shares last quarter. Finally, Goldman Sachs Group Inc. increased its stake in RADA Electronic Industries by 11.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,562 shares of the aerospace company, valued at $356,000, after buying another 2,685 shares last quarter. 60.03% of the shares are owned by hedge funds and other institutional investors.
Shares of NASDAQ RADA fell $0.19 during Friday’s trading hours to hit $9.05. The stock had a trading volume of 566,551 shares compared to an average volume of 723,237. The company has a market cap of $448.97 million, a price-to-earnings ratio of 22.07 and a beta of 0.92. The company has a current ratio of 4.44, a quick ratio of 2.81 and a debt to equity ratio of 0.01. RADA Electronic Industries has a 52-week low of $8.20 and a 52-week high of $16.70. The company has a 50-day moving average of $12.21 and a 200-day moving average of $11.86.
RADA Electronic Industries (NASDAQ:RADA – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The aerospace company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company had revenue of $22.51 million for the quarter, compared to analysts’ expectations of $32.00 million. RADA Electronic Industries had a net margin of 18.00% and a return on equity of 13.60%. On average, equity analysts are forecasting that RADA Electronic Industries will post 0.53 EPS for the year to date.
About RADA Electronic Industries (received rating)
RADA Electronic Industries Ltd., a defense technology company, develops, manufactures, markets and sells defense electronics to various air forces and companies worldwide. It offers digital video/audio/data recorders; High definition digital video/audio/data recording for fighter and trainer aircraft; a line of color video cameras with head-up displays for fighter jets; and various debriefing solutions on the ground.
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