MDA Space (NYSE:MDA) Trading Down 5.9% – What’s Next?

MDA Space Ltd. (NYSE:MDA)’s stock price was down 5.9% on Thursday . The stock traded as low as $35.18 and last traded at $35.37. Approximately 604,963 shares were traded during trading, a decline of 41% from the average session volume of 1,025,207 shares. The stock had previously closed at $37.60.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MDA shares. Zacks Research raised MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. ATB Cormark Capital Markets lowered shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, MDA Space currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

MDA Space Price Performance

The stock has a fifty day moving average price of $37.78. The company has a market capitalization of $4.95 billion and a PE ratio of 127.25.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.