Magellan Aerospace (OTCMKTS:MALJF) Trading 6.8% Higher – Here’s What Happened

Magellan Aerospace Co. (OTCMKTS:MALJF)’s stock price rose 6.8% during trading on Tuesday . The stock traded as high as $16.37 and last traded at $16.0480. Approximately 3,067 shares were traded during trading, an increase of 6% from the average daily volume of 2,882 shares. The stock had previously closed at $15.0322.

Wall Street Analysts Forecast Growth

Separately, TD Securities reiterated a “buy” rating on shares of Magellan Aerospace in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace presently has an average rating of “Buy”.

Magellan Aerospace Trading Up 6.8%

The business’s 50-day moving average is $14.59 and its two-hundred day moving average is $12.90.

About Magellan Aerospace

Magellan Aerospace is a global supplier of aerospace systems and components, specializing in the design, development and manufacture of aero-structures, engine products and landing gear. The company serves commercial and military customers, providing precision-machined parts and assemblies for airframes, flight control systems and propulsion systems. Magellan’s capabilities extend to advanced composites, sheet-metal fabrication, welding, heat treatment and complex assembly processes essential to modern aircraft production and maintenance.

In its Space & Defence division, Magellan Aerospace delivers satellite and space system components, launch vehicle hardware and missile avionics.