Magellan Aerospace (OTCMKTS:MALJF) Trading Down 3.3% – Should You Sell?

Magellan Aerospace Co. (OTCMKTS:MALJF) shares traded down 3.3% during mid-day trading on Monday . The stock traded as low as $16.3632 and last traded at $16.42. 1,502 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 3,044 shares. The stock had previously closed at $16.98.

Analysts Set New Price Targets

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

Magellan Aerospace Trading Down 3.3%

The business’s fifty day simple moving average is $13.55 and its 200-day simple moving average is $12.63.

Magellan Aerospace Company Profile

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.