RADA Electronic Industries Ltd. (NASDAQ: RADA) shares were down -11.06% to $9.81 in the pre-market session.RADA stocks have risen by 9.53% for the week, while its monthly jump stood at 15.50% and annual performance rate reached 76.48%, with a quarterly increase of 71.81%.
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Corporate activity
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RADA Electronic Industries Ltd. (NASDAQ: RADA)focuses on proprietary solutions for radar and legacy aeronautical systems in the defense industry. In addition to active military protection, counter-UAS, critical infrastructure protection, and border surveillance, the Company is the leading player in mini-tactical radars used in attractive, high-growth markets.
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Latest’s Developments
What is happening with this stock today? Only “nervous investors” could have caused it to fall. The only news insight this month that directly affects stocks is the announcement by NASDAQ-listed RADA Electronic Industries Ltd. (NASDAQ: RADA) on January 11, 2021, that its Board of Directors has approved the submission of a listing application seeking a dual listing on the Tel Aviv Stock Exchange. When the Company’s ordinary shares are listed on TASE, they will continue to be listed on the NASDAQ, and it will continue to comply with applicable U.S. filing requirements.
In early January 2021, RADA announced that its largest shareholder, DBSI, had agreed to sell approximately 3.9 million shares to leading Israeli institutional investors, which will broaden RADA’s scope and increase its free float. Following these shares’ sale, DBSI’s interest in RADA will be approximately 2.8 million shares – about 7% of the Company’s issued and outstanding shares.
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At the End…
Analysts’ sentiment usually sways the stock market, so let’s take a peek at how to market gurus saw this stock recently. As of the last trading day, the stock was hovering at around $11.03, approximately 15.15 percent off its average median price target of $13.00. Also, the current price is 21.21% below the consensus price target high of $14.00 suggested by two analysts, but it is now 8.08% higher than the price target low of $12.00 for the same period.
