MDA Space (TSE:MDA) Reaches New 12-Month High - Should You Buy?

Key Points

• MDA Space Ltd. shares reached a new 52-week high, trading as high as C$48.31 before settling at C$44.46, with significant trading volume of 863,491 shares.
• Several analysts have upgraded MDA Space's stock ratings, with target prices raised, including BMO Capital Markets which set a new target at C$53.00 and Scotiabank at C$55.00.
• Despite the positive news, MDA Space's stock experienced a 3.7% decline recently, and insiders sold over 306,000 shares valued at approximately C$9 million in the past three months.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$48.31 and last traded at C$44.46, with a volume of 863491 shares. The stock had previously closed at C$46.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on MDA Space from C$42.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group lifted their price target on 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. BMO Capital Markets lifted their price target on MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Scotiabank raised MDA Space from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from C$39.00 to C$55.00 in a research note on Tuesday, August 5th. Finally, Desjardins lifted their price objective on MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$43.22.

MDA Space Stock Performance

The company has a market cap of C$5.26 billion, a PE ratio of 76.64 and a beta of 0.02. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The business has a fifty day moving average of C$36.75 and a 200-day moving average of C$29.47.

Insider Activity at MDA Space

In related news, Senior Officer Minda Marie Suchan sold 40,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$30.64, for a total transaction of C$1,225,608.00. Also, Director Michael Philip James Greenley sold 200,000 shares of the business'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. Insiders have sold 306,000 shares of company stock worth $9,024,768 over the last 90 days. 12.60% of the stock is owned by insiders.

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.