MDA Space (NYSE:MDA) Sets New 12-Month High – Here’s Why

MDA Space Ltd. (NYSE:MDA)’s stock price reached a new 52-week high on Monday . The company traded as high as $42.19 and last traded at $40.85, with a volume of 129224 shares. The stock had previously closed at $37.87.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDA. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce began coverage on shares of MDA Space in a research report on Wednesday. They set an “outperform” rating for the company. Zacks Research cut shares of MDA Space from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada increased their price objective on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.33.

MDA Space Stock Performance

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.