MDA Space (NYSE:MDA) Shares Down 8.1% – Should You Sell?

Shares of MDA Space Ltd. (NYSE:MDA) were down 8.1% during mid-day trading on Friday . The stock traded as low as $43.16 and last traded at $44.74. Approximately 446,414 shares traded hands during trading, a decline of 46% from the average daily volume of 826,010 shares. The stock had previously closed at $48.68.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDA shares. Royal Bank Of Canada lifted their price target on MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Jefferies Financial Group initiated coverage on MDA Space in a report on Monday, April 6th. They issued a “buy” rating and a $41.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Zacks Research cut MDA Space from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings cut MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.33.

MDA Space Stock Down 7.3%

MDA Space (NYSE:MDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.