MDA Space Ltd. (NYSE:MDA) Short Interest Update

MDA Space Ltd. (NYSE:MDA) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,395,904 shares, a growth of 53.8% from the August 31st total of 2,858,256 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 1,284,109 shares, the days-to-cover ratio is currently 3.4 days.

MDA Space Stock Performance

Shares of NYSE MDA opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. The business has a fifty day moving average of $30.96. The stock has a market cap of $4.69 billion and a price-to-earnings ratio of 53.54. MDA Space has a one year low of $23.23 and a one year high of $49.37.

MDA Space (NYSE:MDA) last announced its earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, equities analysts predict that MDA Space will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MDA Space

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of MDA Space in the second quarter valued at approximately $135,771,000. Tidal Investments LLC purchased a new stake in shares of MDA Space during the second quarter worth approximately $53,428,000. Caisse de depot et placement du Quebec raised its stake in MDA Space by 13.7% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock valued at $32,457,000 after purchasing an additional 94,799 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in MDA Space in the 2nd quarter valued at $28,441,000. Finally, Allianz Asset Management GmbH acquired a new position in MDA Space in the 2nd quarter valued at $15,665,000.

Analyst Ratings Changes

A number of research analysts have weighed in on MDA shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating and set a $49.00 target price on shares of MDA Space in a research report on Tuesday, August 11th. National Bank Financial assumed coverage on MDA Space in a research note on Monday, September 14th. They issued an “outperform” rating for the company. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. increased their price target on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and delivers systems, products and services for government and commercial customers. Its capabilities span satellite communications, Earth observation, space robotics, geointelligence and space exploration.

The company designs and builds satellite systems and payloads, robotics and servicing technologies, and data and analytics solutions. Its historical work includes major contributions to the Canadarm, Canadarm2 and Dextre robotic systems used in space, as well as technologies supporting Earth-observation programs such as RADARSAT.

Headquartered in Brampton, Ontario, MDA Space serves customers in Canada and international markets.