MDA Space (NYSE:MDA) Sees Large Volume Increase – Still a Buy?

MDA Space Ltd. (NYSE:MDA) shares saw unusually-strong trading volume on Tuesday . Approximately 849,018 shares traded hands during trading, an increase of 12% from the previous session’s volume of 759,346 shares.The stock last traded at $43.80 and had previously closed at $43.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDA shares. JPMorgan Chase & Co. upped their price target on MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Canaccord Genuity Group raised MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group assumed coverage on MDA Space in a research report on Monday, April 6th. They set a “buy” rating and a $41.00 price target on the stock. Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce assumed coverage on shares of MDA Space in a report on Wednesday, May 13th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.33.

MDA Space Stock Performance

MDA Space (NYSE:MDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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.