MDA Space (TSE:MDA) Hits New 52-Week High - Should You Buy?

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$38.44 and last traded at C$38.19, with a volume of 107599 shares traded. The stock had previously closed at C$37.17.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDA shares. Desjardins upped their target price on MDA Space from C$38.00 to C$40.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Canaccord Genuity Group lowered their target price on MDA Space from C$37.00 to C$36.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Scotiabank cut MDA Space from a "strong-buy" rating to a "hold" rating and upped their target price for the stock from C$33.00 to C$39.00 in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada upped their target price on MDA Space from C$35.00 to C$42.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$34.78.

MDA Space Stock Up 1.6%

The business has a fifty day moving average price of C$29.33 and a two-hundred day moving average price of C$27.27. 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 firm has a market capitalization of C$4.77 billion, a price-to-earnings ratio of 69.53 and a beta of 0.02.

Insiders Place Their Bets

In other news, Senior Officer David Snarch sold 18,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of C$28.20, for a total value of C$507,600.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total value of C$256,160.00. In the last ninety days, insiders sold 306,000 shares of company stock valued at $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.