MDA Space (NYSE:MDA) Stock Breaks Above 50-Day Moving Average – Time to Sell?

MDA Space Ltd. (NYSE:MDA)’s share price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $28.95 and traded as high as $30.95. MDA Space shares last traded at $30.75, with a volume of 1,501,311 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDA. JPMorgan Chase & Co. dropped their target price on shares of MDA Space from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday. ATB Cormark Capital Markets upgraded shares of MDA Space from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 6th. Deutsche Bank reaffirmed a “buy” rating and issued a $41.00 price target on shares of MDA Space in a report on Monday, August 10th. Weiss Ratings downgraded shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.50.

MDA Space Stock Performance

The company has a current ratio of 2.10, a quick ratio of 2.07 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $29.04 and a two-hundred day moving average price of $33.18.

MDA Space (NYSE:MDA) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. MDA Space had a return on equity of 9.21% and a net margin of 5.75%. As a group, research analysts expect that MDA Space Ltd. will post 0.97 EPS for the current year.

Institutional Investors Weigh In On MDA Space

Hedge funds have recently added to or reduced their stakes in the stock. Tacita Capital Inc grew its position in shares of MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares during the last quarter. Nykredit A S bought a new stake in MDA Space in the 2nd quarter valued at about $124,000. Russell Investments Group Ltd. acquired a new position in MDA Space during the 3rd quarter valued at about $190,000. Capstone Investment Advisors LLC acquired a new position in MDA Space during the 2nd quarter valued at about $276,000. Finally, Advisors Asset Management Inc. acquired a new position in MDA Space during the 3rd quarter valued at about $222,000.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit. The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.