MDA Space (TSE:MDA) Trading Down 25% - What's Next?

Key Points

• MDA Space Ltd. shares fell by 25% during mid-day trading, reaching a low of C$32.91, significantly down from the prior close of C$44.01.
• Despite the drop, several analysts have recently increased their target prices for MDA, with most giving it a "Buy" or "Strong Buy" rating, suggesting confidence in future performance.
• Insiders have sold 288,000 shares worth over $8.5 million in the last three months, indicating potential concerns or profit-taking among senior officers.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MDA shares. Canaccord Genuity Group boosted their target price on MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada lifted their price target on MDA Space from C$42.00 to C$53.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Desjardins lifted their price target on MDA Space from C$40.00 to C$55.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank upgraded MDA Space from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from C$39.00 to C$55.00 in a report on Tuesday, August 5th. Finally, BMO Capital Markets lifted their price target on MDA Space from C$33.00 to C$53.00 and gave the company an "outperform" rating 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$43.22.

MDA Space Stock Down 25.0%

The business has a 50-day simple moving average of C$41.93 and a two-hundred day simple moving average of C$32.22. The company has a market cap of C$4.12 billion, a price-to-earnings 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 MDA Space news, Senior Officer Luigi Pozzebon sold 8,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total value of C$256,160.00. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the business's 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 288,000 shares of company stock worth $8,517,168 over the last ninety days. 12.60% of the stock is currently owned by corporate insiders.

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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