MDA Space (TSE:MDA) Reaches New 1-Year High – Still a Buy?

MDA Space Ltd. (TSE:MDA)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$30.00 and last traded at C$29.81, with a volume of 10199 shares trading hands. The stock had previously closed at C$29.53.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Cormark boosted their target price on shares of MDA Space from C$31.00 to C$38.00 in a research note on Wednesday, December 11th. Ci Capital upped their target price on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Canaccord Genuity Group lifted their price target on MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Desjardins raised MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets upgraded shares of MDA Space from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$31.50.

MDA Space Stock Performance

The stock has a 50 day moving average of C$26.71 and a 200 day moving average of C$19.25. The company has a market capitalization of C$3.53 billion, a price-to-earnings ratio of 77.47 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Transactions at MDA Space

In other MDA Space news, Director Michael Philip Greenley sold 290,600 shares of MDA Space stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$28.55, for a total value of C$8,296,630.00. Also, Director Yung Cheng Wu purchased 3,800 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$28.49 per share, for a total transaction of C$108,262.00. In the last 90 days, insiders have sold 361,300 shares of company stock worth $10,285,710. Company 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.