Magellan Aerospace (OTCMKTS:MALJF) Shares Down 1.9% – Here’s What Happened

Shares of Magellan Aerospace Co. (OTCMKTS:MALJF) traded down 1.9% during trading on Wednesday . The stock traded as low as $12.66 and last traded at $13.04. 1,468 shares traded hands during trading, a decline of 22% from the average session volume of 1,879 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

Separately, TD Securities restated a “buy” rating on shares of Magellan Aerospace in a research report on Tuesday, May 13th.

Magellan Aerospace Stock Down 1.9%

The business’s 50 day simple moving average is $12.79 and its 200 day simple moving average is $9.52.

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.