MDA Space Ltd. (TSE:MDA) Given Average Rating of "Buy" by Brokerages

Key Points

• MDA Space Ltd. has received an average analyst rating of "Buy" from six brokerages, with an average 12-month price target of C$38.44.
• Several brokerages, including Scotiabank and Canaccord Genuity, have recently lowered their price targets for MDA Space, with estimates ranging from C$40.00 to C$47.00.
• Insider transactions include significant sales, with Director Michael Philip James Greenley selling over 1 million shares valued at approximately C$45 million, indicating a 89.61% ownership decrease.

MDA Space Ltd. (TSE:MDA - Get Free Report) has been assigned an average recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is C$38.44.

A number of brokerages recently issued reports on MDA. Scotiabank lowered their price target on MDA Space from C$55.00 to C$43.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th. Canaccord Genuity Group lowered their price target on MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. Royal Bank Of Canada decreased their price objective on MDA Space from C$53.00 to C$45.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th. Desjardins decreased their price objective on MDA Space from C$56.00 to C$43.00 and set a "buy" rating for the company in a report on Tuesday, September 9th. Finally, BMO Capital Markets decreased their price objective on MDA Space from C$53.00 to C$40.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th.

Insiders Place Their Bets

In other news, Director Michael Philip James Greenley sold 1,009,300 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of C$45.00, for a total value of C$45,418,500.00. Following the completion of the sale, the director directly owned 117,037 shares of the company's stock, valued at approximately C$5,266,665. This represents a 89.61% decrease in their ownership of the stock. Also, Director John Carter Risley sold 184,230 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total value of C$7,921,890.00. Following the completion of the sale, the director directly owned 1,246,020 shares of the company's stock, valued at C$53,578,860. The trade was a 12.88% decrease in their ownership of the stock. In the last three months, insiders sold 1,334,150 shares of company stock valued at $59,797,443. 12.60% of the stock is owned by insiders.

MDA Space Trading Up 3.1%

TSE MDA opened at C$33.11 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. MDA Space has a 52 week low of C$16.53 and a 52 week high of C$48.31. The stock has a market capitalization of C$4.13 billion, a PE ratio of 36.79 and a beta of -0.63. The firm has a 50 day moving average of C$40.77 and a two-hundred day moving average of C$32.82.

About MDA Space

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.

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