RADA Electronic Industries Ltd. (NASDAQ:RADA) Sees Significant Growth in Short Interest

RADA Electronic Industries Ltd. (NASDAQ:RADA – Get Rating) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 976,500 shares, a growth of 39.9% from the April 15th total of 698,100 shares. Based on an average daily volume of 584,100 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.2% of the shares of the stock are sold short.

A number of brokerages recently weighed in on RADA. Canaccord Genuity Group raised their target price on shares of RADA Electronic Industries from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, April 19th. StockNews.com assumed coverage on shares of RADA Electronic Industries in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of RADA Electronic Industries from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Alliance Global Partners decreased their price target on shares of RADA Electronic Industries from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RADA Electronic Industries presently has an average rating of “Hold” and a consensus target price of $14.60.

A number of large investors have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas bought a new stake in RADA Electronic Industries in the first quarter valued at $553,000. Apis Capital Advisors LLC bought a new stake in RADA Electronic Industries in the first quarter valued at $1,560,000. Ergoteles LLC bought a new stake in RADA Electronic Industries in the first quarter valued at $167,000. Covestor Ltd bought a new stake in RADA Electronic Industries in the first quarter valued at $195,000. Finally, EAM Investors LLC bought a new stake in shares of RADA Electronic Industries during the 1st quarter valued at $1,063,000. Institutional investors and hedge funds own 60.03% of the company’s stock.

Shares of NASDAQ RADA traded up $0.16 during mid-day trading on Friday, hitting $10.76. The stock had a trading volume of 946,160 shares, compared to its average volume of 626,617. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.04 and a current ratio of 4.44. RADA Electronic Industries has a 1 year low of $8.20 and a 1 year high of $16.70. The business has a 50 day moving average price of $14.19 and a two-hundred day moving average price of $11.50. The firm has a market cap of $533.80 million, a P/E ratio of 26.24 and a beta of 0.76.

RADA Electronic Industries (NASDAQ:RADA – Get Rating) last released its quarterly earnings results on Wednesday, February 9th. The aerospace company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.50 million. RADA Electronic Industries had a net margin of 18.00% and a return on equity of 13.60%. During the same quarter last year, the firm earned $0.06 EPS. Equities research analysts predict that RADA Electronic Industries will post 0.53 EPS for the current fiscal year.

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.

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