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MDA Space (TSE:MDA) Shares Up 10.8% - Time to Buy?

MDA Space logo with Industrials background

Key Points

  • MDA Space Ltd. shares surged by 10.8% in mid-day trading, reaching a last traded price of C$42.99 after previously closing at C$38.80.
  • Multiple brokerages have adjusted their ratings and price targets for MDA Space, with targets ranging from C$39.00 to C$45.00, reflecting a consensus average target price of C$35.78.
  • Insider selling activity has been noted, with senior officials unloading over 306,000 shares worth approximately $9 million in the last ninety days.
  • MarketBeat previews the top five stocks to own by September 1st.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) shot up 10.8% during mid-day trading on Friday . The company traded as high as C$44.14 and last traded at C$42.99. 485,398 shares were traded during trading, a decline of 0% from the average session volume of 487,607 shares. The stock had previously closed at C$38.80.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDA. Scotiabank lowered shares of 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 research report on Thursday, July 3rd. Royal Bank Of Canada boosted their price target on shares of MDA Space from C$35.00 to C$42.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Desjardins boosted their price target on shares of MDA Space from C$38.00 to C$40.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Canaccord Genuity Group boosted 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$35.78.

Read Our Latest Research Report on MDA

MDA Space Stock Up 17.0%

The firm has a market cap of C$5.54 billion, a P/E ratio of 80.69 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 firm's fifty day moving average is C$34.49 and its 200 day moving average is C$28.64.

Insider Buying and Selling at MDA Space

In related news, Senior Officer Holly Lynn Johnson sold 31,200 shares of MDA Space stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$30.70, for a total transaction of C$957,840.00. Also, Director Michael Philip James Greenley sold 200,000 shares of MDA Space stock in a transaction dated Wednesday, June 11th. The stock was 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 306,000 shares of company stock worth $9,024,768 in the last ninety days. Insiders own 12.60% of the company's stock.

About MDA Space

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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