MDA Space (TSE:MDA) Trading Up 4.6% – Should You Buy?

MDA Space Ltd. (TSE:MDA)’s share price rose 4.6% during mid-day trading on Friday . The company traded as high as C$23.68 and last traded at C$22.42. Approximately 499,751 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 627,984 shares. The stock had previously closed at C$21.43.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Canada raised shares of MDA Space to a “strong-buy” rating in a research report on Tuesday, October 7th. BMO Capital Markets lowered their price objective on shares of MDA Space from C$40.00 to C$36.00 in a research note on Friday, October 31st. Royal Bank Of Canada cut their target price on MDA Space from C$53.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Scotiabank reduced their target price on MDA Space from C$43.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Finally, Stifel Nicolaus set a C$48.00 price target on MDA Space and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$38.70.

MDA Space Trading Up 3.9%

The firm has a fifty day moving average of C$31.93 and a 200-day moving average of C$34.30. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The stock has a market capitalization of C$2.78 billion, a price-to-earnings ratio of 24.73 and a beta of -0.86.

Insider Buying and Selling

In related news, insider Guillaume Lavoie purchased 1,220 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was purchased at an average price of C$33.91 per share, for a total transaction of C$41,370.20. Following the acquisition, the insider directly owned 4,562 shares in the company, valued at C$154,697.42. The trade was a 36.51% increase in their ownership of the stock. Also, Director Brendan Paddick sold 45,600 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$47.02, for a total transaction of C$2,143,929.60. Following the completion of the sale, the director directly owned 1,136,353 shares of the company’s stock, valued at C$53,426,772.65. This trade represents a 3.86% decrease in their position. Insiders have sold a total of 1,149,920 shares of company stock worth $51,875,553 in the last ninety days. 12.60% of the stock is owned by corporate insiders.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.