MDA Space (TSE:MDA) Trading 4.6% Higher – What’s Next?

MDA Space Ltd. (TSE:MDA)’s share price was up 4.6% during mid-day trading on Friday . The company traded as high as C$23.68 and last traded at C$22.42. Approximately 499,751 shares traded hands during trading, a decline of 20% from the average daily volume of 627,984 shares. The stock had previously closed at C$21.43.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MDA shares. Desjardins cut their target price on shares of MDA Space from C$56.00 to C$43.00 and set a “buy” rating for the company in a research note on Tuesday, September 9th. BMO Capital Markets lowered their price objective on MDA Space from C$40.00 to C$36.00 in a research report on Friday, October 31st. Royal Bank Of Canada dropped their price objective on MDA Space from C$53.00 to C$45.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Stifel Canada raised shares of MDA Space to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Scotiabank lowered their price target on shares of MDA Space from C$43.00 to C$40.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$38.70.

MDA Space Stock Up 7.2%

The firm has a 50 day simple moving average of C$32.36 and a two-hundred day simple moving average of C$34.28. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. The stock has a market cap of C$2.87 billion, a price-to-earnings ratio of 25.53 and a beta of -0.86.

Insider Buying and Selling

In related news, Director Brendan Paddick sold 45,600 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$47.02, for a total value of C$2,143,929.60. Following the sale, the director directly owned 1,136,353 shares in the company, valued at C$53,426,772.65. This trade represents a 3.86% decrease in their position. Also, Director Michael Philip James Greenley sold 1,009,300 shares of MDA Space stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of C$45.00, for a total transaction of C$45,418,500.00. Following the transaction, the director directly owned 117,037 shares in the company, valued at C$5,266,665. The trade was a 89.61% decrease in their position. In the last quarter, insiders sold 1,149,920 shares of company stock valued at $51,875,553. Insiders own 12.60% of the company’s stock.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.