MDA Space (NYSE:MDA) Shares Down 7.4% – Should You Sell?

Shares of MDA Space Ltd. (NYSE:MDA) were down 7.4% on Friday . The stock traded as low as $37.55 and last traded at $37.81. Approximately 293,424 shares traded hands during trading, a decline of 67% from the average daily volume of 897,247 shares. The stock had previously closed at $40.83.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MDA shares. Canadian Imperial Bank of Commerce started coverage on shares of MDA Space in a research note on Wednesday, May 13th. They set an “outperform” rating for the company. Royal Bank Of Canada increased their target price on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research note on Wednesday. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered shares of MDA Space from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

MDA Space Trading Down 9.9%

The company’s 50 day moving average is $37.07. The firm has a market capitalization of $5.10 billion and a price-to-earnings ratio of 131.39.

MDA Space (NYSE:MDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.28 EPS for the quarter, beating 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.