MDA Space (TSE:MDA) Reaches New 1-Year High – Should You Buy?

MDA Space Ltd. (TSE:MDA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$33.11 and last traded at C$33.04, with a volume of 92188 shares trading hands. The stock had previously closed at C$32.22.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MDA. Scotiabank upped their target price on MDA Space from C$28.50 to C$34.00 in a research note on Monday, March 10th. Canaccord Genuity Group dropped their price objective on MDA Space from C$37.00 to C$36.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MDA Space presently has a consensus rating of “Buy” and an average target price of C$32.00.

MDA Space Stock Performance

The company has a fifty day moving average price of C$26.99 and a two-hundred day moving average price of C$26.70. 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 company has a market capitalization of C$3.99 billion, a P/E ratio of 58.21 and a beta of 0.02.

Insiders Place Their Bets

In other news, Senior Officer Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction on Friday, June 20th. The shares were sold at an average price of C$30.64, for a total transaction of C$1,225,608.00. Also, Senior Officer David Snarch sold 18,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of C$28.20, for a total value of C$507,600.00. Insiders have sold 266,800 shares of company stock valued at $7,810,768 in the last ninety days. 12.60% of the stock is currently owned by 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.