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

Magellan Aerospace Co. (OTCMKTS:MALJF) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,700 shares, a drop of 30.8% from the August 15th total of 3,900 shares. Based on an average daily trading volume, of 2,300 shares, the short-interest ratio is currently 1.2 days.

Magellan Aerospace Stock Performance

OTCMKTS:MALJF remained flat at $6.87 during trading hours on Monday. The company had a trading volume of 10 shares, compared to its average volume of 2,138. Magellan Aerospace has a 12 month low of $5.03 and a 12 month high of $7.20. The company has a 50 day moving average of $6.55 and a two-hundred day moving average of $6.15.

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.