RADA Electronic Industries Ltd. (NASDAQ:RADA)’s stock price fell 5.7% during mid-day trading on Tuesday . The stock traded as low as $12.67 and last traded at $13.62. 881,837 shares were traded during mid-day trading, an increase of 8% from the average session volume of 813,021 shares. The stock had previously closed at $14.44.
Several research firms have recently issued reports on RADA. TheStreet raised RADA Electronic Industries from a “c” rating to a “b-” rating in a research note on Friday, November 13th. Zacks Investment Research cut RADA Electronic Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. Alliance Global Partners reissued a “buy” rating and issued a $19.00 price target (up previously from $14.00) on shares of RADA Electronic Industries in a research note on Wednesday, February 10th. Finally, Canaccord Genuity increased their price target on RADA Electronic Industries from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 11th.
The company has a 50 day moving average of $11.14 and a two-hundred day moving average of $8.31. The firm has a market cap of $595.52 million, a P/E ratio of 226.83 and a beta of 1.09.
A number of hedge funds have recently made changes to their positions in RADA. Morgan Stanley boosted its stake in RADA Electronic Industries by 2,137.2% during the third quarter. Morgan Stanley now owns 392,645 shares of the aerospace company’s stock valued at $2,329,000 after buying an additional 375,094 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in RADA Electronic Industries during the fourth quarter valued at about $2,118,000. Menora Mivtachim Holdings LTD. acquired a new position in shares of RADA Electronic Industries in the 3rd quarter valued at $1,131,000. Phoenix Holdings Ltd. increased its stake in RADA Electronic Industries by 2.1% in the 3rd quarter. Phoenix Holdings Ltd. now owns 3,071,579 shares of the aerospace company’s stock worth $17,196,000 after purchasing an additional 63,844 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in RADA Electronic Industries by 206.9% during the 4th quarter. Engineers Gate Manager LP now owns 70,684 shares of the aerospace company’s stock worth $689,000 after buying an additional 47,652 shares during the period. 33.03% of the stock is owned by institutional investors and hedge funds.
RADA Electronic Industries Company Profile (NASDAQ:RADA)
RADA Electronic Industries Ltd. develops, manufactures, markets, and sells defense electronics to various air forces and companies worldwide. It offers military avionic systems, including flight data recorders for fighter aircraft; 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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