MDA Space (TSE:MDA) Shares Up 8.4% – Still a Buy?

MDA Space Ltd. (TSE:MDA)’s stock price shot up 8.4% during mid-day trading on Thursday . The stock traded as high as C$25.07 and last traded at C$25.03. 452,914 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 643,198 shares. The stock had previously closed at C$23.08.

Wall Street Analyst Weigh In

Several research firms have commented on MDA. Canaccord Genuity Group reduced their price objective on MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. BMO Capital Markets cut their price target on MDA Space from C$36.00 to C$32.00 in a research note on Monday, November 17th. Royal Bank Of Canada decreased their price objective on MDA Space from C$45.00 to C$38.00 in a report on Monday, November 17th. Scotiabank dropped their target price on shares of MDA Space from C$43.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Finally, Desjardins cut their target price on shares of MDA Space from C$56.00 to C$43.00 and set a “buy” rating on the stock in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$38.89.

MDA Space Stock Up 11.3%

The company’s fifty day simple moving average is C$29.52 and its 200-day simple moving average is C$34.14. The firm has a market capitalization of C$3.24 billion, a PE ratio of 30.21 and a beta of -0.86. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00.

MDA Space (TSE:MDA) last posted its quarterly earnings data on Friday, November 14th. The company reported C$0.35 earnings per share for the quarter. MDA Space had a return on equity of 6.17% and a net margin of 7.22%.The firm had revenue of C$409.80 million during the quarter. On average, analysts forecast that MDA Space Ltd. will post 0.9605084 EPS for the current year.

Insider Activity

In other MDA Space news, insider Guillaume Lavoie purchased 1,220 shares of MDA Space stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average price of C$33.91 per share, with a total value of C$41,370.20. Following the acquisition, the insider owned 4,562 shares of the company’s stock, valued at C$154,697.42. This trade represents a 36.51% increase in their position. 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.