Cardinal Point Capital Management ULC bought a new stake in MDA Space Ltd. (NYSE:MDA – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,900 shares of the company’s stock, valued at approximately $1,215,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc raised its stake in MDA Space by 16,480.0% during the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after buying an additional 2,472 shares during the period. Nykredit A S acquired a new stake in MDA Space in the second quarter valued at approximately $124,000. Capstone Investment Advisors LLC acquired a new stake in MDA Space in the second quarter valued at approximately $276,000. Envestnet Asset Management Inc. acquired a new stake in MDA Space in the second quarter valued at approximately $317,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of MDA Space during the second quarter valued at approximately $388,000.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on MDA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. National Bank Financial started coverage on shares of MDA Space in a research note on Monday, September 14th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price target on shares of MDA Space in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, MDA Space currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.
Check Out Our Latest Stock Analysis on MDA Space
MDA Space Trading Up 4.6%
MDA stock opened at $28.83 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72. MDA Space Ltd. has a 52-week low of $23.23 and a 52-week high of $49.37. The company’s 50-day moving average is $29.91.
MDA Space (NYSE:MDA – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $360.18 million during the quarter, compared to analyst estimates of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. On average, equities research analysts anticipate 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.
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