Magellan Aerospace Co. (OTCMKTS:MALJF) Sees Significant Drop in Short Interest

Magellan Aerospace Co. (OTCMKTS:MALJF) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,100 shares, a drop of 47.6% from the May 15th total of 2,100 shares. Based on an average daily volume of 3,200 shares, the short-interest ratio is presently 0.3 days.

Magellan Aerospace Stock Up 7.5%

Shares of MALJF stock traded up $0.98 during trading hours on Tuesday, hitting $13.98. 1,658 shares of the company were exchanged, compared to its average volume of 1,871. The business has a 50 day moving average of $10.90 and a two-hundred day moving average of $8.56. Magellan Aerospace has a 52 week low of $5.84 and a 52 week high of $14.03.

Analyst Upgrades and Downgrades

Separately, TD Securities reiterated a “buy” rating on shares of Magellan Aerospace in a report on Tuesday, May 13th.

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. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, 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.