MDA Space (NYSE:MDA) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

MDA Space (NYSE:MDA) had its price target reduced by JPMorgan Chase & Co. from $50.00 to $44.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on MDA. Jefferies Financial Group reiterated a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 target price on shares of MDA Space in a research report on Monday, August 17th. National Bank Financial began coverage on MDA Space in a research report on Monday, September 14th. They issued an “outperform” rating for the company. Deutsche Bank reaffirmed a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. Finally, Weiss Ratings cut shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.50.

MDA Space Stock Down 5.5%

Shares of NYSE:MDA opened at $29.23 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. MDA Space has a 52-week low of $23.23 and a 52-week high of $49.37. The firm has a fifty day moving average of $29.07 and a 200 day moving average of $33.15.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. MDA Space had a return on equity of 9.21% and a net margin of 5.75%. Sell-side analysts forecast that MDA Space will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp bought a new stake in shares of MDA Space in the 2nd quarter worth approximately $135,771,000. Voya Investment Management LLC purchased a new position in shares of MDA Space during the third quarter valued at approximately $42,089,000. Tidal Investments LLC purchased a new position in shares of MDA Space during the second quarter valued at approximately $53,428,000. Alberta Investment Management Corp bought a new position in shares of MDA Space during the third quarter valued at approximately $38,318,000. Finally, Beutel Goodman & Co Ltd. bought a new position in shares of MDA Space during the third quarter valued at approximately $25,416,000.

About MDA Space

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.