MDA Space (TSE:MDA) Price Target Lowered to C$43.00 at Scotiabank

MDA Space (TSE:MDA) had its price target cut by Scotiabank from C$55.00 to C$43.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on MDA. Canaccord Genuity Group reduced their target price on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday. Desjardins cut their price objective on shares of MDA Space from C$56.00 to C$43.00 and set a “buy” rating for the company in a research report on Tuesday. BMO Capital Markets upped their price objective on shares of MDA Space from C$33.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada cut their price objective on shares of MDA Space from C$53.00 to C$45.00 and set an “outperform” rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$38.44.

MDA Space Trading Down 2.8%

Shares of MDA Space stock opened at C$30.89 on Tuesday. The firm has a 50-day moving average of C$41.68 and a 200-day moving average of C$32.27. The stock has a market cap of C$3.86 billion, a PE ratio of 34.32 and a beta of -0.63. MDA Space has a 52-week low of C$15.41 and a 52-week high of C$48.31. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83.

Insider Activity

In other MDA Space news, Director Brendan Paddick sold 54,400 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares of the company’s stock, valued at approximately C$53,290,596.72. The trade was a 4.40% decrease in their ownership of the stock. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total value of C$256,160.00. In the last 90 days, insiders have sold 372,230 shares of company stock valued at $15,228,315. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

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.