RADA Electronic Industries Ltd. (NASDAQ:RADA) has made a 172.05% comeback from a 12-month low price of $0.79. It was seen -2.71% lower, changing the price to $2.15, when the closing bell rang on Jul. 14, 2017. At recent session, the prices were hovering between $2.11 and $2.24. This company shares are -100% up from its target price of $0 and the current market capitalization stands at $43.86M. The recent change has given its price a 37.71% lead over SMA 50 and -8.51% deficit over its 52-week high. The stock witnessed 32.72% gains, 91.98% gains and 73.39% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found RADA’s volatility during a week at 8.48% and during a month it has been found around 7.11%.
Last month, Rada announced the successful completion of a major milestone, significantly advancing the operability of its tactical radars for the maneuver force, providing the ‘On-the-Move’ (OTM) operation. The OTM capability of aerial surveillance, while the radar-carrying vehicle is performing its operational missions on-the-move is a highly desirable and very important operational requirement by tactical maneuver forces, especially when encountering low, slow and small-sized threats such as armed drones and tactical unmanned aerial vehicles (UAVs).
Dov Sella, RADA’s CEO, commented, “Since inception of our radars, we have considered the OTM technical and operational capabilities in their design, and we have now matured these products to address the urgent OTM needs of our customer base. We are very happy with the performance of our radars under these very demanding conditions. We are confident that the availability of this advanced capability will broaden and expand our customer base through increased demand, and will ultimately grow sales of our tactical radars in the near future.”
The capability was recently demonstrated to a strategic customer under a field test which was highly successful. The radars demonstrated early detection, continuous and accurate tracking of a wide variety of small-sized, low and slow aerial targets from a continuously moving vehicle on varied terrain. RADA’s upgraded RPS-42 MHR-based counter-drone radar systems with OTM capability will be delivered to this particular customer, as well as others, in July 2017.RADA Electronic Industries Ltd. 13F Filings
At the end of March 2017 reporting period, 2 institutional holders increased their position in RADA Electronic Industries Ltd. (NASDAQ:RADA) by some 22,106 shares, 1 decreased positions by 35,098 and 1 held positions by 8,652. That puts total institutional holdings at 65,856 shares, according to SEC filings. The stock grabbed 2 new institutional investments totaling 22,106 shares while 1 institutional investors sold out their entire positions totaling 35,098 shares.