MDA Space (NYSE:MDA) Sees Unusually-High Trading Volume – What’s Next?

Shares of MDA Space Ltd. (NYSE:MDA) saw an uptick in trading volume on Tuesday . 849,018 shares changed hands during mid-day 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 Analyst Weigh In

A number of brokerages have commented on MDA. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce began coverage on shares of MDA Space in a research note on Wednesday, May 13th. They issued an “outperform” rating on the stock. Royal Bank Of Canada upped their target price on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Jefferies Financial Group initiated coverage on shares of MDA Space in a research note on Monday, April 6th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.33.

MDA Space Trading Up 3.3%

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