Short Interest in Magellan Aerospace Co. (OTCMKTS:MALJF) Drops By 43.0%

Magellan Aerospace Co. (OTCMKTS:MALJF) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,500 shares, a drop of 43.0% from the February 29th total of 7,900 shares. Based on an average trading volume of 2,800 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, TD Securities boosted their price objective on Magellan Aerospace from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th.

Magellan Aerospace Stock Down 1.8 %

Shares of OTCMKTS MALJF traded down $0.11 during trading on Thursday, hitting $5.88. 200 shares of the company were exchanged, compared to its average volume of 2,494. The company has a fifty day moving average price of $5.88 and a 200-day moving average price of $5.67. Magellan Aerospace has a 12-month low of $5.03 and a 12-month high of $6.29.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. It offers aero engine products, such as laser welded honeycomb and filament wound tubes, engine frames, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.