MDA Space (TSE:MDA) Reaches New 52-Week High After Analyst Upgrade

MDA Space Ltd. (TSE:MDA)’s share price reached a new 52-week high during 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.

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

Insider Buying and Selling

In related news, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction on 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. Also, Director Yung Cheng Wu bought 3,800 shares of MDA Space stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of C$28.49 per share, for a total transaction of C$108,262.00. 12.60% of the stock is currently owned by company insiders.

MDA Space Stock Up 1.3 %

The stock has a 50 day moving average price of C$23.82 and a 200-day moving average price of C$17.27. The stock has a market capitalization of C$3.47 billion, a P/E ratio of 76.00 and a beta of 0.02. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00.

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.