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

Shares of MDA Space Ltd. (TSE:MDA) fell 18.2% during trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

MDA has been the subject of several research analyst reports. Citigroup upped their price objective on shares of MDA Space from C$26.00 to C$30.00 in a research note on Tuesday, January 21st. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Scotiabank upped their price objective 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. Canaccord Genuity Group upped their price objective on shares of MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Finally, BMO Capital Markets upgraded shares of MDA Space from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$31.29.

MDA Space Stock Down 10.1 %

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

Insider Buying and Selling

In related news, Director Yung Cheng Wu bought 3,800 shares of the stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director John Carter Risley sold 61,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$28.06, for a total transaction of C$1,711,660.00. Insiders sold 361,300 shares of company stock valued at $10,285,710 over the last ninety days. Corporate 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.