MDA Space (TSE:MDA) Reaches New 12-Month High - Here's What Happened

MDA Space Ltd. (TSE:MDA - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as C$30.00 and last traded at C$29.81, with a volume of 10199 shares traded. The stock had previously closed at C$29.53.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDA. Desjardins upgraded MDA Space to a "moderate buy" rating in a report on Wednesday, October 30th. BMO Capital Markets raised shares of MDA Space from a "market perform" rating to an "outperform" rating and raised their price target for the stock from C$15.00 to C$28.00 in a research note on Monday, November 4th. Royal Bank of Canada increased their target price on shares of MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Scotiabank lifted their price target on shares of MDA Space from C$29.00 to C$33.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group increased their price objective on shares of MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$31.50.

MDA Space Trading Down 3.5 %

The company has a market cap of C$3.42 billion, a P/E ratio of 74.97 and a beta of 0.02. The business's 50-day moving average price is C$26.54 and its 200 day moving average price is C$19.13. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Activity

In other news, Director Yung Cheng Wu acquired 3,800 shares of MDA Space stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 290,600 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$28.55, for a total value of C$8,296,630.00. Insiders sold a total of 361,300 shares of company stock valued at $10,285,710 over the last three months. Insiders own 12.60% of the company's stock.

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.