Why RADA Electronic Industries Ltd. (RADA) shares price is down -5.63% today

Today’s big question for investors is, “what’s going on with RADA Electronic Industries Ltd. (NASDAQ:RADA) stock? Its price is nose-diving -0.3 points, trading at $5.03 levels, and is down -5.63% from its previous close of $5.33. The shares seem to have an active trading volume day with a reported 175735 contracts so far this session. RADA shares had a relatively better volume day versus average trading capacity of 125.35 thousand shares, but with a 25.71 million float and a 9.45% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RADA stock indicates that the average analyst price target is $6.5 per share. This means the stock has a potential increase of 29.22% from where the RADA share price has been trading recently which is between $5.25 and $5.43. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.5.

The shorts are climbing into RADA Electronic Industries Ltd. (RADA) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in RADA shares. While short interest still represents only 0.21% of RADA’s float, the number of shares shorted have risen by 47418. The number of shares shorted advanced to 54944 shares, up from 7526 shares during the preceding fortnight. With average daily trading volumes at 209587 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of RADA earnings conference call or presentation 21-Aug-19 1:00pm GMT” and dated September 07, 2019.

During the recent trading session for RADA Electronic Industries Ltd. (NASDAQ:RADA), the company witnessed their stock rise $0.22 over a week and surge $1.15 from the price 20 days ago. When compared to their established 52-week high of $5.43, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/09/19. The recent low of $2.5 stood for a -7.37% since 12/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.48 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for RADA Electronic Industries Ltd., the two-week RSI stands at 64.19. This figure suggests that RADA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RADA readings is similarly very revealing as it has a stochastic reading of 80.81% at this stage. This figure means that RADA share price today is being oversold.

Technical chart claims that RADA Electronic Industries Ltd. (RADA) would settle between $5.42/share to $5.52/share level. However, if the stock price goes below the $5.24 mark, then the market for RADA Electronic Industries Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $5.16 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.24. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Moving on, RADA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is NA. RADA Electronic Industries Ltd. current P/B ratio of NA means it is trading at a premium against its industry’s NA.