MDA Space (NYSE:MDA) Stock Breaks Above 50-Day Moving Average – Should You Sell?

MDA Space Ltd. (NYSE:MDA)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $28.95 and traded as high as $30.95. MDA Space shares last traded at $30.75, with a volume of 1,501,311 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 price target on shares of MDA Space in a report on Monday, August 10th. JPMorgan Chase & Co. raised their price target on shares of MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Jefferies Financial Group restated a “buy” rating on shares of MDA Space in a report on Tuesday, October 13th. Finally, National Bank Financial initiated coverage on shares of MDA Space in a research report on Monday, September 14th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, MDA Space currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Price Performance

The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $28.95 and a 200 day moving average price of $33.21. The stock has a market cap of $4.99 billion and a PE ratio of 56.94.

MDA Space (NYSE:MDA) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. As a group, research analysts forecast that MDA Space Ltd. will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MDA Space

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp bought a new position in MDA Space during the second quarter worth about $135,771,000. Tidal Investments LLC purchased a new position in shares of MDA Space in the second quarter worth about $53,428,000. Alberta Investment Management Corp bought a new stake in shares of MDA Space in the third quarter valued at approximately $38,318,000. Beutel Goodman & Co Ltd. bought a new stake in shares of MDA Space in the third quarter valued at approximately $25,416,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of MDA Space in the second quarter valued at approximately $28,441,000.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit.

The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.

Founded in 1969, MDA has operated under several corporate structures, including as part of Maxar Technologies, before returning to independent ownership and adopting the MDA Space name.