Magellan Aerospace Co. (OTCMKTS:MALJF – Get Free Report)’s stock price dropped 1.1% on Wednesday . The stock traded as low as $24.6960 and last traded at $25.17. Approximately 863 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,667 shares. The stock had previously closed at $25.44.
Analysts Set New Price Targets
Separately, TD Securities restated a “buy” rating on shares of Magellan Aerospace in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Magellan Aerospace has an average rating of “Buy”.
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Magellan Aerospace Stock Performance
About Magellan Aerospace
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.
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