MDA Space (NYSE:MDA) Reaches New 52-Week High – Here’s Why

MDA Space Ltd. (NYSE:MDA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $42.19 and last traded at $40.85, with a volume of 129224 shares. The stock had previously closed at $37.87.

Analyst Ratings Changes

Several analysts have recently weighed in on MDA shares. Royal Bank Of Canada boosted their price objective on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce started coverage on shares of MDA Space in a research report on Wednesday, May 13th. They set an “outperform” rating for the company. Weiss Ratings downgraded shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.33.

MDA Space Stock Performance

MDA Space (NYSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.