MDA Space (TSE:MDA) Stock Price Down 4% – What’s Next?

Shares of MDA Space Ltd. (TSE:MDA) dropped 4% on Thursday . The stock traded as low as C$43.31 and last traded at C$43.60. Approximately 202,727 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 986,145 shares. The stock had previously closed at C$45.44.

Analyst Ratings Changes

A number of brokerages have recently commented on MDA. Morgan Stanley raised shares of MDA Space from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from C$32.00 to C$46.00 in a report on Friday, January 16th. Scotiabank raised their price objective on shares of MDA Space from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada dropped their price objective on shares of MDA Space from C$45.00 to C$38.00 in a research note on Monday, November 17th. Desjardins upped their target price on shares of MDA Space from C$39.00 to C$48.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Stifel Nicolaus increased their target price on shares of MDA Space from C$48.00 to C$57.00 in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$47.43.

MDA Space Stock Down 8.3%

The company has a current ratio of 0.47, a quick ratio of 1.00 and a debt-to-equity ratio of 30.34. The company has a market capitalization of C$5.27 billion, a price-to-earnings ratio of 49.62 and a beta of -1.20. The firm’s 50 day simple moving average is C$36.30 and its 200-day simple moving average is C$32.68.

MDA Space (TSE:MDA) last released its earnings results on Wednesday, March 4th. The company reported C$0.45 EPS for the quarter. The company had revenue of C$499.10 million during the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. On average, sell-side analysts anticipate that MDA Space Ltd. will post 0.9605084 EPS for the current fiscal year.

Insider Transactions at MDA Space

In related news, Director John Carter Risley sold 75,700 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$27.17, for a total transaction of C$2,056,769.00. Following the completion of the transaction, the director directly owned 313,710 shares of the company’s stock, valued at C$8,523,500.70. This represents a 19.44% decrease in their ownership of the stock. 12.60% of the stock is 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. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.