MDA Space (NYSE:MDA) Sees Unusually-High Trading Volume – What’s Next?

MDA Space Ltd. (NYSE:MDA) saw unusually-high trading volume on Tuesday . Approximately 849,018 shares were traded during trading, an increase of 12% from the previous session’s volume of 759,346 shares.The stock last traded at $43.80 and had previously closed at $43.11.

Wall Street Analysts Forecast Growth

MDA has been the subject of a number of analyst reports. Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of MDA Space from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce initiated coverage on shares of MDA Space in a research report on Wednesday, May 13th. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their target price 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. Finally, Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.33.

MDA Space Stock Up 3.3%

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