MDA Space (TSE:MDA) Reaches New 12-Month High – Here’s What Happened

MDA Space Ltd. (TSE:MDA) reached a new 52-week high on Friday . The stock traded as high as C$27.05 and last traded at C$25.21, with a volume of 189958 shares trading hands. The stock had previously closed at C$25.85.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDA. Canaccord Genuity Group lifted their price objective on MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. Desjardins raised MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised shares of MDA Space from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Scotiabank lifted their target price on shares of MDA Space from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Cormark increased their price target on shares of MDA Space from C$19.00 to C$21.00 in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$24.20.

MDA Space Trading Down 3.4 %

The firm has a market cap of C$3.00 billion, a price-to-earnings ratio of 65.71 and a beta of 0.02. The business has a 50 day moving average of C$20.03 and a 200 day moving average of C$15.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Buying and Selling at MDA Space

In other news, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Also, Director John Carter Risley sold 22,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total value of C$347,017.50. In the last ninety days, insiders have sold 199,220 shares of company stock worth $3,285,909. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.