Magellan Aerospace (OTCMKTS:MALJF) Trading Down 3.3% – Here’s What Happened

Shares of Magellan Aerospace Co. (OTCMKTS:MALJF) fell 3.3% on Monday . The company traded as low as $16.3632 and last traded at $16.42. 1,502 shares traded hands during trading, a decline of 51% from the average session volume of 3,044 shares. The stock had previously closed at $16.98.

Analysts Set New Price Targets

Separately, TD Securities restated a “buy” rating on shares of Magellan Aerospace in a research report on Monday, November 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Magellan Aerospace Stock Performance

The company has a 50-day moving average of $13.55 and a 200 day moving average of $12.63.

Magellan Aerospace Company Profile

Magellan Aerospace is a global supplier of aerospace systems and components, specializing in the design, development and manufacture of aero-structures, engine products and landing gear. The company serves commercial and military customers, providing precision-machined parts and assemblies for airframes, flight control systems and propulsion systems. Magellan’s capabilities extend to advanced composites, sheet-metal fabrication, welding, heat treatment and complex assembly processes essential to modern aircraft production and maintenance.

In its Space & Defence division, Magellan Aerospace delivers satellite and space system components, launch vehicle hardware and missile avionics.