MDA Space (TSE:MDA) Trading 2.4% Higher - Still a Buy?

Key Points

• MDA Space Ltd. shares rose 2.4% during mid-day trading, reaching a trading price of C$36.94, with volume significantly higher than average at 1,230,036 shares.
• Analyst ratings for MDA Space are mixed, with one Strong Buy and six Buy ratings, though several price targets have been adjusted downwards, with the average target currently at C$39.40.
• Insider trading activity shows notable selling, with two directors selling a total of 229,830 shares in August, indicating a decrease in their ownership positions.

MDA Space Ltd. (TSE:MDA - Get Free Report) shares traded up 2.4% during mid-day trading on Tuesday . The stock traded as high as C$37.04 and last traded at C$36.94. 1,230,036 shares were traded during mid-day trading, an increase of 106% from the average session volume of 596,876 shares. The stock had previously closed at C$36.06.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus set a C$48.00 price target on shares of MDA Space and gave the company a "buy" rating in a research note on Wednesday, October 8th. Stifel Canada raised shares of MDA Space to a "strong-buy" rating in a research report on Tuesday, October 7th. Desjardins cut their price objective on shares of MDA Space from C$56.00 to C$43.00 and set a "buy" rating on the stock in a research report on Tuesday, September 9th. Canaccord Genuity Group cut their price objective on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. Finally, BMO Capital Markets reduced their price objective on MDA Space from C$53.00 to C$40.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$39.40.

MDA Space Stock Up 2.4%

The firm has a 50-day moving average of C$38.71 and a 200 day moving average of C$33.59. 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 stock has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 41.04 and a beta of -0.99.

Insider Buying and Selling

In other MDA Space news, Director Brendan Paddick sold 45,600 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$47.02, for a total value of C$2,143,929.60. Following the completion of the sale, the director owned 1,136,353 shares in the company, valued at C$53,426,772.65. This trade represents a 3.86% decrease in their ownership of the stock. Also, Director John Carter Risley sold 184,230 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total transaction of C$7,921,890.00. Following the completion of the sale, the director owned 1,246,020 shares of the company's stock, valued at approximately C$53,578,860. This represents a 12.88% decrease in their position. Insiders have sold a total of 1,334,150 shares of company stock worth $59,797,443 in the last quarter. 12.60% of the stock is 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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