Wellington Management Co. LLP recently announced the acquisition of new stake in RADA Electronic Industries Ltd. (NASDAQ:RADA). The institutional investor has increased its shareholding in the Industrials company by 5.61% to 1.96 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 4.52% valued currently at $12.39 million. In addition, Noked Capital Ltd. raised its holdings by 67711.0 to 1.52 million shares. And Meitav Tachlit Mutual Funds Ltd. has lifted its position by 0.50% or 5876.0 shares – to 1.19 million shares.
With over 1.11 million RADA Electronic Industries Ltd. (RADA) shares trading Tuesday and a closing price of $7.04 on the day, the dollar volume was approximately $7.81 million. The shares have shown a negative weekly performance of -3.03% and its price on 08/25/20 lost nearly -1.26%. Currently, there are 43.40M common shares owned by the public and among those 32.88M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RADA have a consensus price objective of $10.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the RADA Electronic Industries Ltd. stock is 1.50 for the next 12 months. The average price target is 29.6% above its last price level and an upside to the estimated low will see the stock gain 21.78% over that period. But an upside of 36.0% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.
The top 3 mutual fund holders in RADA Electronic Industries Ltd. are Yelin Lapidot Menayatit, More TA Mid Cap (4B), and Yelin Lapidot (4D) Menayot Tzmiha. Yelin Lapidot Menayatit owns 0.54 million shares of the company’s stock, all valued at over $3.43 million. The company sold -0.13 million shares recently to bring their total holdings to about 1.25% of the shares outstanding. More TA Mid Cap (4B) sold 81492.0 shares to see its total holdings shrink to 0.34 million shares valued at over $2.16 million and representing 0.79% of the shares outstanding. Yelin Lapidot (4D) Menayot Tzmiha sold 52022.0 shares to bring its total holdings to over 0.21 million shares at a value of $1.31 million. Yelin Lapidot (4D) Menayot Tzmiha now owns shares totaling to 0.48% of the shares outstanding.
Shares of RADA Electronic Industries Ltd. (NASDAQ: RADA) opened at $7.14, up $0.01 from a prior closing price of $7.13. However, the script later closed the day at $7.04, down -1.26%. The company’s stock has a 5-day price change of -3.03% and 38.31% over the past three months. RADA shares are trading 35.65% year to date (YTD), with the 12-month market performance up to 45.76% higher. It has a 12-month low price of $2.05 and touched a high of $7.77 over the same period. Currently, 1.11 million shares have been traded, compared to an average intraday trading volume of 304.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.21%, 7.37%, and 30.79% respectively.
Institutional ownership of RADA Electronic Industries Ltd. (NASDAQ: RADA) shares accounts for 59.60% of the company’s 43.40M shares outstanding. Mutual fund holders own 36.13%, while other institutional holders and individual stakeholders account for 6.33% and — respectively.
It has a market capitalization of $304.90M and a beta (3y monthly) value of 1.05. The earnings-per-share (ttm) stands at $0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.37% over the week and 5.28% over the month.
Analysts forecast that RADA Electronic Industries Ltd. (RADA) will achieve an EPS of $0.02 for the current quarter, $0.03 for the next quarter and $0.17 for 2021. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to decrease by -398.50%, and 150.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate RADA Electronic Industries Ltd. (RADA) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RADA, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on January 15, 2020, with the firm’s price target at $8.