Tidal Investments LLC Acquires Shares of 1,294,285 MDA Space Ltd. $MDA

Tidal Investments LLC acquired a new stake in MDA Space Ltd. (NYSE:MDA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,294,285 shares of the company’s stock, valued at approximately $53,428,000.

A number of other large investors have also modified their holdings of the company. Tacita Capital Inc grew its position in shares of MDA Space by 16,480.0% during the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock valued at $103,000 after acquiring an additional 2,472 shares during the period. Nykredit A S acquired a new position in MDA Space in the 2nd quarter worth about $124,000. Amundi raised its holdings in MDA Space by 10.8% in the 2nd quarter. Amundi now owns 55,138 shares of the company’s stock worth $2,276,000 after purchasing an additional 5,382 shares during the period. Capstone Investment Advisors LLC purchased a new position in MDA Space during the second quarter worth approximately $276,000. Finally, Citizens Financial Group Inc. RI purchased a new position in MDA Space during the second quarter worth approximately $388,000.

Analyst Upgrades and Downgrades

MDA has been the subject of a number of recent analyst reports. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. ATB Cormark Capital Markets lowered MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of MDA Space in a report on Monday, August 17th. Finally, Jefferies Financial Group restated a “buy” rating and set a $49.00 price objective on shares of MDA Space in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, MDA Space has an average rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Price Performance

Shares of MDA Space stock opened at $28.88 on Thursday. The firm has a market capitalization of $4.68 billion and a PE ratio of 53.48. The firm’s 50 day moving average price is $32.42. MDA Space Ltd. has a 12 month low of $23.23 and a 12 month high of $49.37. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The firm had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. As a group, research analysts anticipate that MDA Space Ltd. will post 0.95 EPS for the current fiscal year.

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.