MDA Space (TSE:MDA) Reaches New 12-Month High - What's Next?

MDA Space Ltd. (TSE:MDA - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as C$40.32 and last traded at C$40.16, with a volume of 173520 shares traded. The stock had previously closed at C$39.31.

Wall Street Analysts Forecast Growth

MDA has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of MDA Space from C$35.00 to C$42.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Desjardins increased their target price on shares of MDA Space from C$38.00 to C$40.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Canaccord Genuity Group raised their price target on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Scotiabank downgraded shares of MDA Space from a "strong-buy" rating to a "hold" rating and raised their target price for the company from C$33.00 to C$39.00 in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$35.78.

MDA Space Stock Up 3.1%

The firm has a market capitalization of C$5.12 billion, a P/E ratio of 74.58 and a beta of 0.02. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The business's fifty day moving average price is C$31.09 and its two-hundred day moving average price is C$27.72.

Insiders Place Their Bets

In other news, Director Michael Philip James Greenley sold 200,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total value of C$5,807,400.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. In the last ninety days, insiders sold 306,000 shares of company stock worth $9,024,768. 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.