MDA Space Ltd. (TSE:MDA) Receives Average Recommendation of “Buy” from Brokerages

Shares of MDA Space Ltd. (TSE:MDA) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$38.70.

MDA has been the topic of several recent research reports. Canaccord Genuity Group cut their target price on shares of MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. BMO Capital Markets cut their price target on shares of MDA Space from C$40.00 to C$36.00 in a report on Friday, October 31st. Stifel Canada raised shares of MDA Space to a “strong-buy” rating in a research note on Tuesday, October 7th. Scotiabank decreased their price objective on MDA Space from C$43.00 to C$40.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, Royal Bank Of Canada cut their target price on MDA Space from C$53.00 to C$45.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th.

Insider Buying and Selling

In other MDA Space news, Director John Carter Risley sold 184,230 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total transaction of C$7,921,890.00. Following the completion of the transaction, the director owned 1,246,020 shares in the company, valued at approximately C$53,578,860. This trade represents a 12.88% decrease in their position. Also, Director Brendan Paddick sold 54,400 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares in the company, valued at C$53,290,596.72. This trade represents a 4.40% decrease in their position. Insiders sold 1,334,150 shares of company stock valued at $59,797,443 over the last 90 days. 12.60% of the stock is currently owned by corporate insiders.

MDA Space Stock Performance

TSE:MDA opened at C$22.60 on Wednesday. The stock has a market cap of C$2.82 billion, a P/E ratio of 25.11 and a beta of -0.86. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The stock’s 50-day moving average is C$33.24 and its 200-day moving average is C$34.46. MDA Space has a 1-year low of C$19.96 and a 1-year high of C$48.31.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.