MDA Space Ltd. (NYSE:MDA) Short Interest Up 93.4% in July

MDA Space Ltd. (NYSE:MDA) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 2,669,290 shares, a growth of 93.4% from the June 30th total of 1,379,899 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 2,601,178 shares, the days-to-cover ratio is currently 1.0 days.

MDA Space Price Performance

Shares of MDA traded up $0.06 during trading hours on Friday, hitting $30.34. The stock had a trading volume of 983,106 shares, compared to its average volume of 1,240,770. The company’s fifty day moving average price is $37.42. MDA Space has a 52 week low of $23.23 and a 52 week high of $49.37. The stock has a market capitalization of $4.92 billion and a PE ratio of 108.36.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MDA shares. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Royal Bank Of Canada raised their price target on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Finally, Weiss Ratings lowered MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, MDA Space currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

MDA Space Company Profile

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.