Why the actions of RADA Electronic Industries Ltd. (RADA) Dive Friday After Hours?

The shares of RADA Electronic Industries Ltd. (RADA) lost 7.56% after hours on Friday July 16, 2021 and closed at $ 11.50 per share. Earlier in Friday’s morning session, RADA stock gained 0.73% to close the session at $ 12.44. RADA shares have risen 108.38% in the past 12 months, and they are up 2.89% last week. In the past three months the stock has lost 3.42%, while in the past six months it has fallen 21.37%. The company has a current market of $ 605.58 million and its outstanding shares were $ 45.14 million.

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Let’s take a look at its latest news and development.


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Next publication of financial results

RADA Electronic Industries Ltd will report its financial results for the second quarter of 2021 on Monday, August 2, 2021.

The Company will host a conference call the same day, starting at 9:00 a.m.ET.

Record orders in the first half of 2021

On July 6, 2021, RADA Electronic Industries Ltd announced $ 32 million in new orders in the second quarter of 2021. Including the previously reported $ 24 million of orders received in the first quarter of 2021, the total amount of new orders received in first half of 2021 was $ 56 million, representing 37% year-over-year growth in new orders in the first half of 2021.

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RADA partnership with BeyondMinds

On June 21, 2021, RADA Electronic Industries Ltd and BeyondMinds signed a letter of intent to establish a strategic team to develop and produce advanced AI and deep learning (DL) solutions for RADA tactical radars. .

RADA’s AI Core Capability recently assembled a core group that, together with BeyondMinds cutting-edge AI models and unique solutions, will maintain and strengthen RADA’s leadership in the Tactical Radar for Force Radar market. maneuver.

RADA’s C-RAM radar network receives an IDF award

On May 16, 2021, RADA Electronic Industries Ltd was awarded by the Israel Defense Forces (IDF) for its Sense & Warn network of counter-mortar, artillery and rocket radars (C-RAM) immediately after the operation. Protective edge in 2014. The radar network covers the entire Gaza Strip, has been fully operational for some time, and demonstrates its greatest value during ongoing hostile activities. Radars only detect short-range mortars and rockets that are fired at villages, towns and military bases, and provide adequate alerts and interception times.

Announcement of first quarter 2021 financial results

On May 11, 2021, RADA Electronic Industries Ltd announced its financial results for the quarter ended March 31, 2021.

First Quarter 2021 Financial Highlights

  • RADA reported revenue of $ 25.2 million in the first quarter of 2021, compared to $ 15.1 million in the first quarter of 2020.
  • Gross margin was $ 10.0 million in the first quarter of 2021 compared to the gross margin of $ 5.4 million in the first quarter of 2020.
  • The company reported net income of $ 3.8 million, or $ 0.08 per share in the first quarter of 2021, compared to net income of $ 0.2 million or $ 0.00 per share in the first quarter of 2020.
  • Adjusted EBITDA was $ 4.8 million in the first quarter of 2021, compared to Adjusted EBITDA of $ 0.9 million in the first quarter of 2020.
  • RADA had cash and net cash equivalents of $ 96.2 million as of March 31, 2021, up from $ 35.8 million at the end of 2020.

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Conclusion

Well, there is no reason for his loss in the secondary market on Friday, based on his recent news, we’re pretty confident that he will return to positivity on Monday.


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