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

Key Points

• The share price of MDA Space Ltd. (TSE:MDA) fell by 25%, reaching a low of C$32.91 during mid-day trading on Tuesday, significantly above the average daily volume of shares traded.
• Several analysts have raised their price targets for MDA Space, with estimates ranging from C$45.00 to C$55.00, and the stock has an average rating of "Buy" with a consensus target price of C$43.22.
• Insider selling has been reported, with notable transactions including a Director selling 200,000 shares for over C$5.8 million, indicating potential concerns about the company's future performance.

MDA Space Ltd. (TSE:MDA - Get Free Report)'s share 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 were traded 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.

Analysts Set New Price Targets

MDA has been the topic of a number of research reports. BMO Capital Markets boosted their price objective 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. Canaccord Genuity Group boosted their price objective 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. Royal Bank Of Canada boosted their price objective 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. Scotiabank upgraded MDA Space from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from C$39.00 to C$55.00 in a research note on Tuesday, August 5th. Finally, Desjardins boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$43.22.

MDA Space Stock Performance

The company has a 50-day moving average price of C$41.93 and a two-hundred day moving average price of C$32.22. The stock has a market capitalization of C$4.12 billion, a P/E ratio of 36.66 and a beta of -0.63. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94.

Insider Buying and Selling

In other news, Director Michael Philip James Greenley sold 200,000 shares of the company's 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. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$30.64, for a total value of C$1,225,608.00. In the last ninety days, insiders have sold 288,000 shares of company stock valued at $8,517,168. Corporate 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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