MDA Space (TSE:MDA) Sets New 52-Week High Following Analyst Upgrade

Shares of MDA Space Ltd. (TSE:MDA) reached a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$29.00 to C$33.00. Scotiabank currently has an outperform rating on the stock. MDA Space traded as high as C$29.98 and last traded at C$29.61, with a volume of 178644 shares changing hands. The stock had previously closed at C$28.51.

MDA has been the topic of several other reports. Desjardins upgraded MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$15.00 to C$28.00 in a research report on Monday, November 4th. Ci Capital upped their target price on shares of MDA Space from C$15.00 to C$26.00 in a research note on Monday, November 18th. Royal Bank of Canada raised their price target on shares of MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group boosted their target price on shares of MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$30.33.

Insider Activity at MDA Space

In other news, Director Michael Philip Greenley sold 175,000 shares of the company’s stock in a transaction dated Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Also, Director Yung Cheng Wu purchased 3,800 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of C$28.49 per share, with a total value of C$108,262.00. 12.60% of the stock is currently owned by corporate insiders.

MDA Space Price Performance

The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of C$3.41 billion, a P/E ratio of 74.74 and a beta of 0.02. The firm’s fifty day moving average is C$23.82 and its 200 day moving average is C$17.27.

MDA Space Company Profile

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.