MDA Space (TSE:MDA) Hits New 1-Year High – What’s Next?

Shares of MDA Space Ltd. (TSE:MDA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$30.00 and last traded at C$29.81, with a volume of 10199 shares trading hands. The stock had previously closed at C$29.53.

Analyst Ratings Changes

Several brokerages recently weighed in on MDA. Cormark boosted their price objective on shares of MDA Space from C$31.00 to C$38.00 in a research note on Wednesday, December 11th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Canaccord Genuity Group raised their price objective on MDA Space from C$30.00 to C$34.00 in a research report on Friday, December 13th. Ci Capital upped their target price on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Finally, Royal Bank of Canada increased their target price on shares of MDA Space from C$28.00 to C$30.00 in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MDA Space has an average rating of “Buy” and a consensus target price of C$31.50.

MDA Space Stock Up 0.9 %

The firm has a market cap of C$3.58 billion, a price-to-earnings ratio of 78.45 and a beta of 0.02. The firm has a 50 day moving average of C$26.41 and a 200 day moving average of C$19.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insiders Place Their Bets

In other news, Director Yung Cheng Wu acquired 3,800 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was purchased at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director John Carter Risley sold 61,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$28.06, for a total value of C$1,711,660.00. In the last three months, insiders have sold 361,300 shares of company stock worth $10,285,710. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.