Magellan Aerospace Co. (OTCMKTS:MALJF) Short Interest Down 33.3% in September

Magellan Aerospace Co. (OTCMKTS:MALJF) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,800 shares, a drop of 33.3% from the August 31st total of 2,700 shares. Based on an average daily trading volume, of 800 shares, the days-to-cover ratio is presently 2.3 days.

Magellan Aerospace Stock Performance

Magellan Aerospace stock traded down $0.24 during mid-day trading on Friday, hitting $6.80. 2,670 shares of the company’s stock were exchanged, compared to its average volume of 2,072. The company’s 50 day simple moving average is $6.72 and its 200-day simple moving average is $6.20. Magellan Aerospace has a fifty-two week low of $5.03 and a fifty-two week high of $7.20.

Magellan Aerospace Company Profile

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.