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

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

Wall Street Analysts Forecast Growth

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

MDA Space Trading Up 3.2%

The business's fifty day simple moving average is C$29.10 and its 200 day simple moving average is C$27.19. 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 stock has a market cap of C$4.69 billion, a price-to-earnings ratio of 68.41 and a beta of 0.02.

Insider Activity at MDA Space

In related news, Director Michael Philip James Greenley sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total transaction of C$5,807,400.00. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of C$30.64, for a total value of C$1,225,608.00. In the last 90 days, insiders have sold 306,000 shares of company stock valued at $9,024,768. Company insiders own 12.60% of the company's stock.

MDA Space Company Profile

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.