MDA Space (TSE:MDA) Trading 4.3% Higher – Here’s Why

Shares of MDA Space Ltd. (TSE:MDA) traded up 4.3% during mid-day trading on Wednesday . The company traded as high as C$27.64 and last traded at C$27.63. 433,958 shares changed hands during trading, a decline of 19% from the average session volume of 532,898 shares. The stock had previously closed at C$26.49.

Analyst Upgrades and Downgrades

MDA has been the subject of several recent analyst reports. Cormark increased their price target on MDA Space from C$31.00 to C$38.00 in a research note on Wednesday, December 11th. Scotiabank increased their target price on shares of MDA Space from C$28.50 to C$34.00 in a research report on Monday, March 10th. Citigroup boosted their price target on shares of MDA Space from C$26.00 to C$30.00 in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group increased their price objective on shares of MDA Space from C$30.00 to C$34.00 in a report on Friday, December 13th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MDA Space currently has a consensus rating of “Buy” and an average target price of C$31.43.

MDA Space Price Performance

The firm has a market capitalization of C$3.37 billion, a P/E ratio of 49.11 and a beta of 0.02. The business’s fifty day moving average is C$25.54 and its 200 day moving average is C$24.81. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94.

MDA Space Company Profile

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.