RADA Electronic Industries Ltd. (NASDAQ:RADA) sees strong growth in short-term interest
RADA Electronic Industries Ltd. (NASDAQ:RADA – Get Rating) was the target of a surge in short-term interest in June. As of June 15, there was short interest totaling 1,640,000 shares, an increase of 29.1% from the total of 1,270,000 shares as of May 31. Currently, 6.8% of the company’s shares are sold short. Based on an average trading volume of 649,900 shares, the day-to-cover ratio is currently 2.5 days.
Several research analysts have recently published reports on RADA shares. Alliance Global Partners lowered its price target on RADA Electronic Industries from $14.00 to $13.00 and set a “neutral” rating for the company in a Tuesday, May 10 research report. TheStreet upgraded RADA Electronic Industries from a “b-” to a “c+” rating in a Friday, June 3 research report. StockNews.com began covering RADA Electronic Industries in a research report on Thursday, March 31. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group raised its target price on RADA Electronic Industries from $14.00 to $19.00 and gave the company a “buy” rating in a Tuesday, April 19 research report. Two investment analysts gave the stock a hold rating and three gave the stock 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 of the company. Advisor Group Holdings Inc. increased its stake in shares of RADA Electronic Industries by 4.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 21,083 shares of the aerospace company worth $293,000 after buying 973 additional shares last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of RADA Electronic Industries by 11.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,483 shares of the aerospace company worth $160,000 after buying 1,174 more shares last quarter. Gagnon Securities LLC increased its stake in the shares of RADA Electronic Industries by 9.6% during the 1st quarter. Gagnon Securities LLC now owns 17,275 shares of the aerospace company worth $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% during the 1st quarter. Total Clarity Wealth Management Inc. now owns 10,510 shares of the aerospace company worth $146,000 after buying 2,447 additional 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 worth $356,000 after buying 2,685 additional shares last quarter. 60.03% of the shares are held by hedge funds and other institutional investors.
Shares of NASDAQ RADA traded at $0.19 during Friday trading hours, hitting $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 capitalization of $448.97 million, a price-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 ratio of 0.01. RADA Electronic Industries has a fifty-two week low of $8.20 and a fifty-two 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 released its quarterly earnings data on Tuesday, May 10. The aerospace company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 per ($0.13). The company posted revenue of $22.51 million for the quarter, compared to $32.00 million expected by analysts. RADA Electronic Industries achieved a net margin of 18.00% and a return on equity of 13.60%. On average, stock analysts predict that RADA Electronic Industries will post 0.53 EPS for the current year.
About RADA Electronic Industries (Get a rating)
RADA Electronic Industries Ltd., a defense technology company, develops, manufactures, markets and sells defense electronics products to various air forces and companies worldwide. It offers digital video/audio/data recorders; high definition digital video/audio/data recording for fighter and training aircraft; a range of head-up display color video cameras for fighter jets; and various ground debriefing solutions.
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