MDA Space (NYSE:MDA) Stock Price Up 4.7% – Here’s What Happened

Shares of MDA Space Ltd. (NYSE:MDA) traded up 4.7% on Thursday . The stock traded as high as $30.23 and last traded at $30.16. Approximately 370,482 shares traded hands during trading, a decline of 70% from the average session volume of 1,236,540 shares. The stock had previously closed at $28.81.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. ATB Cormark Capital Markets cut shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Weiss Ratings cut shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Stock Up 4.1%

The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4.86 billion and a P/E ratio of 55.52. The company’s fifty day moving average is $32.42.

MDA Space (NYSE:MDA) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The business had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. Analysts anticipate that MDA Space Ltd. will post 0.95 EPS for the current year.

Institutional Investors Weigh In On MDA Space

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDA. Tacita Capital Inc raised its holdings in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares in the last quarter. Nykredit A S bought a new position in shares of MDA Space during the 2nd quarter worth approximately $124,000. Capstone Investment Advisors LLC acquired a new position in shares of MDA Space during the 2nd quarter worth approximately $276,000. Citizens Financial Group Inc. RI acquired a new position in shares of MDA Space during the 2nd quarter worth approximately $388,000. Finally, Quantbot Technologies LP bought a new stake in MDA Space in the 2nd quarter valued at $593,000.

MDA Space Company Profile

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.