Short Interest in RADA Electronic Industries Ltd. (NASDAQ:RADA) Decreases By 20.2%

RADA Electronic Industries Ltd. (NASDAQ:RADA – Get Rating) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 698,100 shares, a drop of 20.2% from the March 31st total of 874,800 shares. Based on an average daily trading volume, of 569,700 shares, the short-interest ratio is currently 1.2 days. Approximately 1.6% of the shares of the company are short sold.

Several research firms recently commented on RADA. Canaccord Genuity Group raised their price objective on shares of RADA Electronic Industries from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, April 19th. StockNews.com began coverage on shares of RADA Electronic Industries in a report on Thursday, March 31st. They issued a “hold” rating for the company. Alliance Global Partners downgraded shares of RADA Electronic Industries from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a report on Thursday, March 17th. Canaccord Genuity Group cut their price target on shares of RADA Electronic Industries from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 12th. Finally, Zacks Investment Research downgraded shares of RADA Electronic Industries from a “buy” rating to a “hold” rating in a report on Tuesday, February 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.80.

NASDAQ:RADA traded up $0.42 during trading hours on Tuesday, reaching $15.40. The company’s stock had a trading volume of 2,281 shares, compared to its average volume of 510,425. The firm has a market capitalization of $763.99 million, a price-to-earnings ratio of 29.96 and a beta of 0.76. The firm has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $11.34. RADA Electronic Industries has a 1 year low of $8.20 and a 1 year high of $16.70.

RADA Electronic Industries (NASDAQ:RADA – Get Rating) last announced its quarterly earnings results on Wednesday, February 9th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.50 million. RADA Electronic Industries had a return on equity of 17.23% and a net margin of 21.39%. During the same period last year, the business earned $0.06 EPS. Research analysts expect that RADA Electronic Industries will post 0.58 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ibex Investors LLC boosted its stake in shares of RADA Electronic Industries by 12.0% during the 1st quarter. Ibex Investors LLC now owns 1,861,927 shares of the aerospace company’s stock valued at $25,937,000 after purchasing an additional 199,743 shares in the last quarter. Total Clarity Wealth Management Inc. boosted its stake in shares of RADA Electronic Industries by 30.3% during the 1st quarter. Total Clarity Wealth Management Inc. now owns 10,510 shares of the aerospace company’s stock valued at $146,000 after purchasing an additional 2,447 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of RADA Electronic Industries during the 1st quarter valued at about $419,000. Cambiar Investors LLC boosted its stake in RADA Electronic Industries by 36.2% during the first quarter. Cambiar Investors LLC now owns 193,921 shares of the aerospace company’s stock worth $2,701,000 after acquiring an additional 51,554 shares in the last quarter. Finally, TownSquare Capital LLC bought a new stake in RADA Electronic Industries during the first quarter worth about $144,000. 60.03% of the stock is currently owned by hedge funds and other institutional investors.

About RADA Electronic Industries (Get 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 aircrafts; a range of head-up-displays color video cameras for fighter aircraft; and various ground debriefing solutions.

Further Reading