MDA Space (NYSE:MDA) Shares Down 7.4% – Should You Sell?

MDA Space Ltd. (NYSE:MDA)’s share price fell 7.4% during mid-day trading on Friday . The company traded as low as $37.55 and last traded at $37.81. 293,424 shares traded hands during trading, a decline of 67% from the average session volume of 897,247 shares. The stock had previously closed at $40.83.

Analyst Ratings Changes

A number of research firms have recently issued reports on MDA. Zacks Research lowered shares of MDA Space from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. 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. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Stock Performance

The company has a fifty day moving average of $37.07. The stock has a market cap of $5.10 billion and a price-to-earnings ratio of 131.39.

MDA Space (NYSE:MDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05.

About MDA Space

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.