Magellan Aerospace (OTCMKTS:MALJF) Stock Price Up 1.2% – Here’s Why

Magellan Aerospace Co. (OTCMKTS:MALJF)’s share price rose 1.2% during trading on Thursday . The stock traded as high as $12.3920 and last traded at $12.3920. Approximately 4,200 shares traded hands during trading, an increase of 18% from the average daily volume of 3,551 shares. The stock had previously closed at $12.25.

Analyst Upgrades and Downgrades

Separately, TD Securities restated a “buy” rating on shares of Magellan Aerospace in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Magellan Aerospace Stock Performance

The stock’s 50-day moving average is $12.15 and its 200 day moving average is $12.38.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.