Magellan Aerospace (OTCMKTS:MALJF) Stock Price Down 2% – Here’s Why

Shares of Magellan Aerospace Co. (OTCMKTS:MALJF) fell 2% during trading on Wednesday . The company traded as low as $7.40 and last traded at $7.40. 2,020 shares traded hands during trading, an increase of 1% from the average session volume of 1,996 shares. The stock had previously closed at $7.55.

Magellan Aerospace Price Performance

The firm has a 50-day moving average price of $7.46 and a two-hundred day moving average price of $6.74.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.