MDA Space (NYSE:MDA) Trading 8.7% Higher – Still a Buy?

MDA Space Ltd. (NYSE:MDA)’s stock price shot up 8.7% on Tuesday . The stock traded as high as $41.41 and last traded at $41.40. 572,872 shares were traded during trading, a decline of 45% from the average session volume of 1,035,390 shares. The stock had previously closed at $38.08.

Analyst Ratings Changes

Several analysts recently commented on MDA shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Weiss Ratings lowered MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, JPMorgan Chase & Co. increased their price target on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Stock Performance

The firm has a market capitalization of $5.74 billion and a P/E ratio of 147.46. The stock has a 50 day moving average of $37.83.

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