MDA Space (TSE:MDA) Hits New 1-Year High – Here’s What Happened

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$48.31 and last traded at C$44.46, with a volume of 863491 shares changing hands. The stock had previously closed at C$46.18.

Analyst Ratings Changes

A number of research analysts recently commented on MDA shares. Desjardins upped their price target on shares of MDA Space from C$40.00 to C$55.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. BMO Capital Markets upped their price target on shares of MDA Space from C$33.00 to C$53.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Scotiabank upgraded shares of MDA Space from a “hold” rating to a “strong-buy” rating and upped their price target for the company from C$39.00 to C$55.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on shares of MDA Space from C$42.00 to C$53.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MDA Space presently has a consensus rating of “Buy” and an average price target of C$43.22.

MDA Space Price Performance

The company’s 50 day moving average price is C$36.48 and its 200-day moving average price is C$29.37. The stock has a market cap of C$5.13 billion, a P/E ratio of 74.81 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip James Greenley sold 200,000 shares of MDA Space stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total transaction of C$5,807,400.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of MDA Space stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total transaction of C$256,160.00. Insiders have sold 306,000 shares of company stock valued at $9,024,768 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.