MDA Space (NYSE:MDA) Stock Price Up 6.4% – What’s Next?

Shares of MDA Space Ltd. (NYSE:MDA) rose 6.4% on Tuesday . The company traded as high as $33.56 and last traded at $33.47. 342,060 shares were traded during trading, a decline of 71% from the average session volume of 1,182,572 shares. The stock had previously closed at $31.47.

Analysts Set New Price Targets

Several brokerages recently commented on MDA. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Finally, ATB Cormark Capital Markets lowered shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

MDA Space Trading Down 2.0%

The firm has a fifty day moving average price of $39.11. The stock has a market capitalization of $4.61 billion and a PE ratio of 118.61.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate 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.