MDA Space (TSE:MDA) Trading Down 18.2% – Should You Sell?

MDA Space Ltd. (TSE:MDA) shares fell 18.2% on Wednesday . The stock traded as low as C$21.78 and last traded at C$22.18. 288,510 shares were traded during trading, a decline of 19% from the average session volume of 357,129 shares. The stock had previously closed at C$27.10.

Analysts Set New Price Targets

Several brokerages have weighed in on MDA. Royal Bank of Canada increased their price target on MDA Space from C$28.00 to C$30.00 in a research report on Wednesday, November 20th. Scotiabank raised their target price on MDA Space from C$29.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Desjardins upgraded MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and raised their target price for the company from C$15.00 to C$28.00 in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised their target price on MDA Space from C$30.00 to C$34.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$31.29.

MDA Space Trading Down 10.1 %

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. The company has a market capitalization of C$2.93 billion, a price-to-earnings ratio of 64.13 and a beta of 0.02. The company has a fifty day moving average of C$28.12 and a 200-day moving average of C$21.05.

Insiders Place Their Bets

In other MDA Space news, Director John Carter Risley sold 61,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$28.06, for a total value of C$1,711,660.00. Also, Director Michael Philip Greenley sold 9,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$28.60, for a total value of C$277,420.00. Insiders have sold 361,300 shares of company stock valued at $10,285,710 in the last ninety days. 12.60% of the stock is currently owned by corporate insiders.

About MDA Space

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.