MDA Space Ltd. $MDA Shares Newly Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. bought a new stake in MDA Space Ltd. (NYSE:MDA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,846 shares of the company’s stock, valued at approximately $677,000.

Several other institutional investors also recently modified their holdings of the business. Van ECK Associates Corp bought a new stake in shares of MDA Space during the second quarter worth approximately $135,771,000. Tidal Investments LLC bought a new position in MDA Space in the second quarter valued at approximately $53,428,000. TD Waterhouse Canada Inc. bought a new position in MDA Space in the second quarter valued at approximately $28,441,000. Montrusco Bolton Investments Inc. bought a new position in MDA Space in the third quarter valued at approximately $12,052,000. Finally, Allianz Asset Management GmbH acquired a new stake in MDA Space during the 2nd quarter worth $15,665,000.

Analyst Upgrades and Downgrades

MDA has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th. Jefferies Financial Group restated a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. Weiss Ratings lowered MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, National Bank Financial initiated coverage on MDA Space in a research note on Monday, September 14th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.00.

MDA Space Stock Performance

Shares of NYSE MDA opened at $27.58 on Wednesday. The firm has a market capitalization of $4.47 billion and a PE ratio of 51.07. The firm’s 50 day moving average price is $30.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. MDA Space Ltd. has a 52-week low of $23.23 and a 52-week high of $49.37.

MDA Space (NYSE:MDA) last issued its earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. Analysts predict that MDA Space Ltd. will post 0.96 earnings per share for the current fiscal year.

MDA Space Profile

MDA Space Ltd. is a Canadian space technology company that designs and delivers systems, products and services for government and commercial customers. Its activities span satellite communications, Earth observation, space robotics, geointelligence and lunar exploration, with capabilities covering mission planning, engineering, manufacturing and in-orbit support.

The company is known for developing space robotics and automation technologies, including systems used on the International Space Station, as well as satellite payloads, satellite subsystems and communications platforms.