MDA Space (NYSE:MDA) Shares Gap Down – What’s Next?

MDA Space Ltd. (NYSE:MDA) shares gapped down before the market opened on Thursday . The stock had previously closed at $38.67, but opened at $35.63. MDA Space shares last traded at $36.15, with a volume of 1,989,445 shares.

Analyst Ratings Changes

MDA has been the subject of a number of research analyst reports. Scotiabank restated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, MDA Space has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Price Performance

The company has a market cap of $4.73 billion and a price-to-earnings ratio of 121.50. The company’s 50-day simple moving average is $39.00.

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