MDA Space (TSE:MDA) Trading 8.4% Higher – What’s Next?

MDA Space Ltd. (TSE:MDA)’s stock price traded up 8.4% during mid-day trading on Thursday . The stock traded as high as C$25.07 and last traded at C$25.03. 452,914 shares were traded during mid-day trading, a decline of 30% from the average session volume of 643,198 shares. The stock had previously closed at C$23.08.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets dropped their price objective on MDA Space from C$36.00 to C$32.00 in a research report on Monday, November 17th. 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 report on Friday, October 31st. Stifel Canada raised shares of MDA Space to a “strong-buy” rating in a research report on Tuesday, October 7th. Desjardins reduced their price objective on shares of MDA Space from C$56.00 to C$43.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. Finally, Stifel Nicolaus set a C$48.00 target price on shares of MDA Space and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$38.89.

MDA Space Stock Performance

The stock’s fifty day simple moving average is C$29.17 and its two-hundred day simple moving average is C$34.07. The company has a market cap of C$3.14 billion, a price-to-earnings ratio of 29.29 and a beta of -0.90. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83.

MDA Space (TSE:MDA) last released its quarterly earnings data on Friday, November 14th. The company reported C$0.35 EPS for the quarter. The business had revenue of C$409.80 million during the quarter. MDA Space had a return on equity of 6.17% and a net margin of 7.22%. Equities research analysts anticipate that MDA Space Ltd. will post 0.9605084 EPS for the current year.

Insider Activity at MDA Space

In other news, insider Guillaume Lavoie acquired 1,220 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were bought at an average cost of C$33.91 per share, for a total transaction of C$41,370.20. Following the acquisition, the insider directly owned 4,562 shares in the company, valued at C$154,697.42. This trade represents a 36.51% increase in their position. 12.60% of the stock is currently owned by company insiders.

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.