MDA Space (NYSE:MDA) Shares Up 6.4% – Still a Buy?

MDA Space Ltd. (NYSE:MDA)’s stock price shot up 6.4% during mid-day trading on Tuesday . The company traded as high as $33.56 and last traded at $33.47. 342,060 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,182,572 shares. The stock had previously closed at $31.47.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDA. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Zacks Research upgraded MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Royal Bank Of Canada lifted their price objective on MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Two 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 company’s stock. Based on data from MarketBeat, MDA Space has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Stock Up 7.1%

The stock has a market capitalization of $4.68 billion and a price-to-earnings ratio of 120.43. The company has a 50-day simple moving average of $39.02.

MDA Space (NYSE:MDA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates 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.