MDA Space (TSE:MDA) Sets New 12-Month High – What’s Next?

MDA Space Ltd. (TSE:MDA)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$28.54 and last traded at C$28.39, with a volume of 192326 shares. The stock had previously closed at C$27.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDA shares. Cormark upped their price objective on shares of MDA Space from C$30.00 to C$31.00 in a research report on Monday, November 18th. Royal Bank of Canada raised their price objective on shares of MDA Space from C$28.00 to C$30.00 in a research report on Wednesday, November 20th. Desjardins raised MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$15.00 to C$28.00 in a research note on Monday, November 4th. Finally, Scotiabank lifted their price target on MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$27.83.

MDA Space Stock Performance

The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of C$3.47 billion, a price-to-earnings ratio of 76.11 and a beta of 0.02. The stock’s fifty day moving average is C$22.41 and its two-hundred day moving average is C$16.62.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Yung Cheng Wu purchased 3,800 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the company’s stock in a transaction dated Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. 12.60% of the stock is owned by company insiders.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.