MDA Space (TSE:MDA) Stock Price Down 25% - Time to Sell?

Key Points

• MDA Space Ltd. experienced a significant stock price drop of 25%, falling to around C$32.99 from a previous close of C$44.01.
• A number of analysts, including Desjardins and Scotiabank, have raised their price targets for MDA Space, indicating a positive outlook with target prices now ranging from C$40.00 to C$55.00.
• Insider trading activity has been notable, with company directors selling a total of 288,000 shares valued at over $8.5 million in the last quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDA shares. Desjardins upped their price objective on MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Scotiabank raised shares of MDA Space from a "hold" rating to a "strong-buy" rating and increased their price target for the company from C$39.00 to C$55.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price target on shares of MDA Space from C$42.00 to C$53.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. BMO Capital Markets boosted 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 note on Tuesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, MDA Space has an average rating of "Buy" and an average target price of C$43.22.

MDA Space Trading Down 25.0%

The firm has a market cap of C$4.12 billion, a PE ratio of 36.66 and a beta of -0.63. 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 company has a 50 day simple moving average of C$41.93 and a two-hundred day simple moving average of C$32.22.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip James Greenley sold 200,000 shares of the business's 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. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of C$30.64, for a total transaction of C$1,225,608.00. Insiders sold 288,000 shares of company stock valued at $8,517,168 over the last quarter. Insiders own 12.60% of the company's stock.

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.

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