MDA Space (TSE:MDA) Hits New 1-Year High – Here’s Why

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$27.05 and last traded at C$25.21, with a volume of 189958 shares changing hands. The stock had previously closed at C$25.85.

Analyst Ratings Changes

MDA has been the topic of several recent research reports. Cormark lifted their price objective on shares of MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. Royal Bank of Canada increased their price objective on MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. Canaccord Genuity Group lifted their price target on MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. Scotiabank upped their price objective on shares of MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised shares of MDA Space from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$24.20.

MDA Space Price Performance

The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of C$2.94 billion, a P/E ratio of 65.42 and a beta of 0.02. The stock’s fifty day moving average is C$19.84 and its 200-day moving average is C$15.61.

Insider Transactions at MDA Space

In other MDA Space news, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. Also, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total transaction of C$347,017.50. Over the last three months, insiders sold 199,220 shares of company stock worth $3,285,909. 12.60% of the stock is owned by insiders.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.