MDA Space (TSE:MDA) Hits New 12-Month High – Here’s What Happened

Shares of MDA Space Ltd. (TSE:MDA) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$30.28 and last traded at C$30.27, with a volume of 78951 shares changing hands. The stock had previously closed at C$29.56.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank lifted their price objective on MDA Space from C$28.50 to C$34.00 in a research report on Monday, March 10th. Canaccord Genuity Group reduced their price target on MDA Space from C$37.00 to C$36.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$32.00.

MDA Space Stock Performance

The stock has a 50-day moving average price of C$26.43 and a 200 day moving average price of C$26.60. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The firm has a market capitalization of C$3.69 billion, a price-to-earnings ratio of 53.77 and a beta of 0.02.

Insider Activity at MDA Space

In other news, Director Michael Philip James Greenley sold 200,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total value of C$5,807,400.00. Also, Senior Officer Guillaume Lavoie purchased 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average price of C$24.75 per share, for a total transaction of C$28,462.50. 12.60% of the stock is currently owned by corporate insiders.

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.