Magellan Aerospace Co. (OTCMKTS:MALJF) Short Interest Down 14.3% in June

Magellan Aerospace Co. (OTCMKTS:MALJF) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 600 shares, a decrease of 14.3% from the May 31st total of 700 shares. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is presently 0.7 days.

Magellan Aerospace Price Performance

Magellan Aerospace stock opened at $5.94 on Friday. Magellan Aerospace has a 52-week low of $5.03 and a 52-week high of $6.29. The company has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $5.85.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their target price on shares of Magellan Aerospace from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.