MDA Space (TSE:MDA) Hits New 1-Year High After Analyst Upgrade

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$29.00 to C$33.00. Scotiabank currently has an outperform rating on the stock. MDA Space traded as high as C$29.98 and last traded at C$29.61, with a volume of 178644 shares changing hands. The stock had previously closed at C$28.51.

A number of other research analysts have also commented on the stock. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of MDA Space from C$28.00 to C$30.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group upped their target price on shares of MDA Space from C$21.00 to C$27.00 in a research report on Monday, November 4th. Ci Capital upped their target price on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. Finally, BMO Capital Markets upgraded shares of MDA Space from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, MDA Space currently has an average rating of “Buy” and an average target price of C$30.33.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Yung Cheng Wu purchased 3,800 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the company’s stock in a transaction dated Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Company insiders own 12.60% of the company’s stock.

MDA Space Stock Up 2.4 %

The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of C$3.51 billion, a PE ratio of 77.13 and a beta of 0.02. The company has a 50 day moving average price of C$23.36 and a 200-day moving average price of C$17.08.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.