RADA Electronic Industries Ltd. (NASDAQ:RADA)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $13.06, but opened at $13.46. RADA Electronic Industries shares last traded at $13.40, with a volume of 2,082 shares traded.
Several research analysts have recently issued reports on RADA shares. Zacks Investment Research cut RADA Electronic Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, February 24th. Robert W. Baird assumed coverage on RADA Electronic Industries in a research note on Tuesday, March 23rd. They set an “outperform” rating and a $17.00 target price for the company. Alliance Global Partners reaffirmed a “buy” rating and set a $19.00 target price (up from $14.00) on shares of RADA Electronic Industries in a report on Wednesday, February 10th. Canaccord Genuity upped their target price on RADA Electronic Industries from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, March 8th. Finally, Jefferies Financial Group initiated coverage on RADA Electronic Industries in a research note on Monday, March 15th. They set a “buy” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. RADA Electronic Industries presently has an average rating of “Buy” and a consensus target price of $15.80.
The stock has a 50 day moving average price of $12.61 and a two-hundred day moving average price of $9.54. The company has a market capitalization of $673.25 million, a PE ratio of 217.67 and a beta of 1.09.
Several hedge funds and other institutional investors have recently modified their holdings of RADA. Lazard Asset Management LLC acquired a new stake in RADA Electronic Industries in the 4th quarter valued at approximately $59,000. Wells Fargo & Company MN grew its holdings in RADA Electronic Industries by 75.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,000 shares of the aerospace company’s stock valued at $68,000 after buying an additional 3,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in RADA Electronic Industries in the 4th quarter valued at approximately $114,000. Jane Street Group LLC acquired a new stake in RADA Electronic Industries in the 3rd quarter valued at approximately $73,000. Finally, Sigma Planning Corp acquired a new stake in RADA Electronic Industries in the 4th quarter valued at approximately $122,000. 33.03% of the stock is currently owned by institutional investors and hedge funds.
About RADA Electronic Industries (NASDAQ:RADA)
RADA Electronic Industries Ltd., a defense technology company, 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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