MDA Space (NYSE:MDA) Trading Down 7.4% – Should You Sell?

MDA Space Ltd. (NYSE:MDA) shares traded down 7.4% during trading on Friday . The stock traded as low as $37.55 and last traded at $37.81. 293,424 shares were traded during mid-day trading, a decline of 67% from the average session volume of 897,247 shares. The stock had previously closed at $40.83.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce started coverage on shares of MDA Space in a research report on Wednesday, May 13th. They set an “outperform” rating for the company. Finally, Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

MDA Space Stock Performance

The company’s 50-day moving average price is $37.07. The company has a market capitalization of $5.17 billion and a price-to-earnings ratio of 133.14.

MDA Space (NYSE:MDA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.