Magellan Aerospace Co. (OTCMKTS:MALJF) Sees Significant Drop in Short Interest

Magellan Aerospace Co. (OTCMKTS:MALJF) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 600 shares, a decrease of 14.3% from the May 31st total of 700 shares. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Separately, TD Securities upped their target price on shares of Magellan Aerospace from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th.

Magellan Aerospace Stock Performance

MALJF stock remained flat at $5.94 during trading on Tuesday. 97 shares of the company traded hands, compared to its average volume of 2,378. Magellan Aerospace has a one year low of $5.03 and a one year high of $6.29. The stock has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $5.85.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.