MDA Space (TSE:MDA) Shares Down 25% - What's Next?

Key Points

• MDA Space Ltd. shares fell by 25% on Tuesday, trading down to C$32.99 from a previous close of C$44.01.
• Multiple analysts have recently upgraded their target prices for MDA Space, with Scotiabank raising its target from C$39 to C$55, now rating it as a "strong-buy."
• In the last quarter, insiders sold a total of 288,000 shares valued at over $8.5 million, indicating potential concerns about the stock's outlook.

MDA Space Ltd. (TSE:MDA - Get Free Report) shares traded down 25% on Tuesday . The stock traded as low as C$32.91 and last traded at C$32.99. 3,165,014 shares traded hands during mid-day trading, an increase of 500% from the average session volume of 527,288 shares. The stock had previously closed at C$44.01.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Scotiabank upgraded shares of MDA Space from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from C$39.00 to C$55.00 in a report on Tuesday, August 5th. Royal Bank Of Canada increased their target price 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. BMO Capital Markets increased their price objective on shares of MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group increased their price objective on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Desjardins increased their price objective on shares of MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, MDA Space currently has a consensus rating of "Buy" and an average target price of C$43.22.

MDA Space Stock Down 25.0%

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 firm's 50 day simple moving average is C$41.93 and its 200-day simple moving average is C$32.22. The stock has a market capitalization of C$4.12 billion, a price-to-earnings ratio of 36.66 and a beta of -0.63.

Insider Buying and Selling at MDA Space

In other MDA Space news, Senior Officer Holly Lynn Johnson sold 31,200 shares of MDA Space stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$30.70, for a total value of C$957,840.00. Also, Director Michael Philip James Greenley sold 200,000 shares of MDA Space stock in a transaction 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. Insiders have sold a total of 288,000 shares of company stock valued at $8,517,168 over the last quarter. 12.60% of the stock is currently owned by corporate insiders.

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.

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