Canaccord Genuity Group Has Lowered Expectations for MDA Space (TSE:MDA) Stock Price

Key Points

• Canaccord Genuity Group has lowered the price target for MDA Space from C$54.00 to C$47.00, indicating a potential upside of 41.57% from the last close.
• Other firms, such as BMO Capital Markets and Royal Bank of Canada, have raised their price targets for MDA Space, demonstrating a mix of analyst confidence in the stock.
• MDA Space's current consensus rating is "Buy," with a reported average price target of C$38.44, as it trades around C$33.20.

MDA Space (TSE:MDA - Free Report) had its price target cut by Canaccord Genuity Group from C$54.00 to C$47.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

MDA has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of MDA Space from C$33.00 to C$53.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Desjardins increased their price target on shares of MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada increased their price target on shares of MDA Space from C$42.00 to C$53.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Scotiabank raised shares of MDA Space from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from C$39.00 to C$55.00 in a report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MDA Space has an average rating of "Buy" and an average price target of C$38.44.

MDA Space Stock Performance

TSE:MDA traded down C$0.09 during trading hours on Tuesday, hitting C$30.80. 963,072 shares of the company were exchanged, compared to its average volume of 557,736. The stock has a market capitalization of C$3.85 billion, a price-to-earnings ratio of 34.22 and a beta of -0.63. MDA Space has a 52-week low of C$15.53 and a 52-week high of C$48.31. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. The company's 50 day moving average price is C$41.56 and its 200-day moving average price is C$32.37.

Insider Activity at MDA Space

In other news, insider Holly Lynn Johnson sold 40,620 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of C$45.80, for a total value of C$1,860,396.00. Following the completion of the sale, the insider directly owned 34,810 shares in the company, valued at C$1,594,298. This represents a 53.85% decrease in their ownership of the stock. Also, Director John Carter Risley sold 184,230 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total transaction of C$7,921,890.00. Following the completion of the sale, the director owned 1,246,020 shares of the company's stock, valued at C$53,578,860. This trade represents a 12.88% decrease in their ownership of the stock. Insiders sold a total of 1,422,150 shares of company stock valued at $62,507,211 in the last three months. Company insiders own 12.60% of the company's stock.

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.