MDA Space (NYSE:MDA) Trading Down 5.9% – Should You Sell?

Shares of MDA Space Ltd. (NYSE:MDA) were down 5.9% during trading on Thursday . The company traded as low as $35.18 and last traded at $35.37. 604,963 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,025,207 shares. The stock had previously closed at $37.60.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MDA. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a report on Monday. Royal Bank Of Canada boosted their price target on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a research report on Monday. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. lifted their target price on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

MDA Space Stock Performance

The stock has a fifty day simple moving average of $37.71. The company has a market cap of $5.10 billion and a price-to-earnings ratio of 131.14.

MDA Space (NYSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05.

About MDA Space

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.