MDA Space Ltd. (NYSE:MDA) Short Interest Update

MDA Space Ltd. (NYSE:MDA) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 2,669,290 shares, an increase of 93.4% from the June 30th total of 1,379,899 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 2,601,178 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analyst Weigh In

MDA has been the subject of a number of research analyst reports. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Royal Bank Of Canada boosted their target price on MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Finally, Scotiabank restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Two equities research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Stock Down 3.7%

Shares of MDA opened at $28.77 on Thursday. MDA Space has a 52 week low of $23.23 and a 52 week high of $49.37. The company has a market cap of $4.66 billion and a PE ratio of 102.75. The firm has a fifty day moving average price of $37.64.

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, 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.