MDA Space (NYSE:MDA) Stock Price Up 8.7% – What’s Next?

Shares of MDA Space Ltd. (NYSE:MDA) rose 8.7% on Tuesday . The company traded as high as $41.41 and last traded at $41.40. 572,872 shares were traded during trading, a decline of 45% from the average daily volume of 1,035,390 shares. The stock had previously closed at $38.08.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MDA. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Royal Bank Of Canada increased their target price on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.67.

MDA Space Stock Up 0.6%

The business has a 50 day moving average price of $38.06. The firm has a market cap of $5.52 billion and a price-to-earnings ratio of 141.86.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.