RADA Electronic Ind. (NASDAQ:RADA) Earns Buy Rating from Analysts at Canaccord Genuity

Canaccord Genuity assumed coverage on shares of RADA Electronic Ind. (NASDAQ:RADA) in a report issued on Wednesday, Benzinga reports. The brokerage issued a buy rating and a $8.00 price target on the aerospace company’s stock.

RADA has been the subject of a number of other reports. Alliance Global Partners reissued a buy rating and issued a $7.50 target price (up from $6.50) on shares of RADA Electronic Ind. in a research report on Thursday, September 19th. ValuEngine downgraded RADA Electronic Ind. from a hold rating to a sell rating in a research report on Wednesday, October 2nd.

Shares of RADA traded down $0.11 on Wednesday, reaching $6.64. 303,913 shares of the company’s stock traded hands, compared to its average volume of 872,258. The stock’s 50 day simple moving average is $5.56 and its two-hundred day simple moving average is $4.81. RADA Electronic Ind. has a 52-week low of $2.55 and a 52-week high of $7.00.

RADA Electronic Ind. (NASDAQ:RADA) last issued its quarterly earnings results on Tuesday, November 19th. The aerospace company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). RADA Electronic Ind. had a negative return on equity of 3.77% and a negative net margin of 4.75%. The company had revenue of $11.26 million during the quarter.

A number of large investors have recently added to or reduced their stakes in RADA. Renaissance Technologies LLC increased its position in RADA Electronic Ind. by 532.2% in the second quarter. Renaissance Technologies LLC now owns 482,968 shares of the aerospace company’s stock worth $1,589,000 after buying an additional 406,568 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new stake in RADA Electronic Ind. in the second quarter worth $1,887,000. Susquehanna International Group LLP increased its position in RADA Electronic Ind. by 66.6% in the second quarter. Susquehanna International Group LLP now owns 21,933 shares of the aerospace company’s stock worth $74,000 after buying an additional 8,770 shares during the last quarter. Virtu Financial LLC purchased a new stake in RADA Electronic Ind. in the third quarter worth $119,000. Finally, Phoenix Holdings Ltd. purchased a new stake in RADA Electronic Ind. in the third quarter worth $13,635,000. 20.80% of the stock is owned by institutional investors and hedge funds.

About RADA Electronic Ind.

RADA Electronic Industries Ltd. develops, manufactures, markets, and sells defense electronics to various air forces and companies worldwide. The company offers military avionics systems, including flight data recorders for fighter aircraft; digital video/audio/data recorders with data transfer functions; high-rate data recorders for aircraft and airborne pods; video recorders and airborne data servers; 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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