Magellan Aerospace (OTCMKTS:MALJF) Shares Up 2.8% – What’s Next?

Magellan Aerospace Co. (OTCMKTS:MALJF) shot up 2.8% on Friday . The stock traded as high as $11.59 and last traded at $11.59. 1,282 shares changed hands during trading, a decline of 31% from the average session volume of 1,868 shares. The stock had previously closed at $11.27.

Wall Street Analysts Forecast Growth

Separately, TD Securities reissued a “buy” rating on shares of Magellan Aerospace in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Magellan Aerospace Stock Up 2.8%

The business has a fifty day moving average of $12.65 and a 200-day moving average of $10.65.

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.