MDA Space (TSE:MDA) Hits New 1-Year High After Analyst Upgrade

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high 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. The stock had previously closed at C$28.51.

Other equities research analysts have also recently issued reports about the company. Cormark upped their price target on MDA Space from C$31.00 to C$38.00 in a research note on Wednesday. Desjardins raised MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$15.00 to C$28.00 in a report on Monday, November 4th. Finally, Ci Capital boosted their target price on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$30.33.

Insider Activity

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

MDA Space Stock Performance

The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of C$23.36 and a 200 day simple moving average of C$17.08. The firm has a market cap of C$3.51 billion, a PE ratio of 77.13 and a beta of 0.02.

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.