MDA Space (TSE:MDA) Stock Price Down 8.5% – Should You Sell?

MDA Space Ltd. (TSE:MDA)’s share price traded down 8.5% during trading on Thursday . The stock traded as low as C$50.05 and last traded at C$50.22. 1,839,675 shares were traded during mid-day trading, an increase of 56% from the average session volume of 1,176,615 shares. The stock had previously closed at C$54.90.

Wall Street Analysts Forecast Growth

MDA has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on shares of MDA Space from C$56.00 to C$65.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Morgan Stanley boosted their price target on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce set a C$57.00 price objective on shares of MDA Space and gave the company an “outperformer” rating in a research note on Thursday, May 14th. Stifel Nicolaus lifted their target price on MDA Space from C$70.00 to C$75.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Desjardins boosted their target price on MDA Space from C$66.00 to C$70.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$63.40.

MDA Space Price Performance

The company has a 50-day moving average of C$54.14 and a 200-day moving average of C$43.33. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. The stock has a market cap of C$6.94 billion, a price-to-earnings ratio of 63.01 and a beta of -0.34.

MDA Space (TSE:MDA) last announced its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The company had revenue of C$464.10 million for the quarter. As a group, equities research analysts predict that MDA Space Ltd. will post 0.9605084 earnings per share for the current year.

Insider Activity

In other news, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the sale, the insider owned 49,784 shares of the company’s stock, valued at C$2,649,504.48. The trade was a 44.55% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 688 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$55.62, for a total value of C$38,266.56. Following the transaction, the insider owned 5,569 shares in the company, valued at C$309,747.78. The trade was a 11.00% decrease in their position. Insiders have sold a total of 119,269 shares of company stock worth $6,318,903 over the last quarter. Insiders own 12.60% of the company’s stock.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.