MDA Space (TSE:MDA) Trading Down 20.5% - Time to Sell?

Key Points

• MDA Space Ltd. (TSE:MDA) saw its share price drop by 20.5% on Monday, trading as low as C$34.20, after closing at C$44.01.
• Analysts have generally maintained a positive outlook, with multiple upgrades in ratings and targets, including a price target increase from C$40.00 to C$55.00 by Desjardins.
• Insider trading activity includes significant sales, with insiders offloading 288,000 shares valued at over $8.5 million in the last three months.

MDA Space Ltd. (TSE:MDA - Get Free Report)'s share price was down 20.5% on Monday . The company traded as low as C$34.20 and last traded at C$34.99. Approximately 1,230,668 shares traded hands during mid-day trading, an increase of 139% from the average daily volume of 515,191 shares. The stock had previously closed at C$44.01.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDA. Desjardins upped their price target on shares of MDA Space from C$40.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. BMO Capital Markets lifted their target price on MDA Space from C$33.00 to C$53.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group boosted their price objective 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. Royal Bank Of Canada boosted 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. Finally, Scotiabank upgraded shares of MDA Space from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from C$39.00 to C$55.00 in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$43.22.

MDA Space Stock Down 24.2%

The firm has a market capitalization of C$4.17 billion, a PE ratio of 37.09 and a beta of -0.63. 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 has a 50-day moving average of C$41.97 and a two-hundred day moving average of C$32.17.

Insider Buying and Selling

In other news, Senior Officer Holly Lynn Johnson sold 31,200 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was 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 the company's stock in a transaction that occurred 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. Over the last three months, insiders sold 288,000 shares of company stock valued at $8,517,168. 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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