MDA Space (TSE:MDA) Stock Price Down 25% - Should You Sell?

Key Points

• MDA Space Ltd.'s stock price plummeted by 25% during mid-day trading, reaching a low of C$32.91, significantly down from its previous close of C$44.01.
• Multiple research firms have increased their target prices for MDA Space, with ratings ranging from "buy" to "outperform," indicating positive outlooks despite recent declines.
• Insiders have sold a significant number of shares, totaling 288,000 shares worth over C$8.5 million in the past three months, which may raise questions about confidence in the company's future.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) fell 25% during mid-day trading on Tuesday . The company traded as low as C$32.91 and last traded at C$32.99. 3,165,014 shares changed 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

A number of research firms have issued reports on MDA. BMO Capital Markets raised their target price on MDA Space from C$33.00 to C$53.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Desjardins raised their target price on MDA Space from C$40.00 to C$55.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their target price on MDA Space from C$42.00 to C$53.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group raised their target price on MDA Space from C$36.00 to C$45.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Scotiabank upgraded MDA Space from a "hold" rating to a "strong-buy" rating and raised their target price for the company from C$39.00 to C$55.00 in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, MDA Space presently has an average rating of "Buy" and an average target price of C$43.22.

MDA Space Price Performance

The company has a market capitalization of C$4.12 billion, a price-to-earnings ratio of 36.66 and a beta of -0.63. 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 business has a fifty day moving average price of C$41.93 and a 200 day moving average price of C$32.22.

Insiders Place Their Bets

In related news, Senior Officer Luigi Pozzebon sold 8,000 shares of MDA Space stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total transaction of C$256,160.00. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated 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. Insiders sold a total of 288,000 shares of company stock valued at $8,517,168 over the last three months. 12.60% of the stock is currently owned by company 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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