MDA Space (NYSE:MDA) Shares Down 8.1% – Should You Sell?

Shares of MDA Space Ltd. (NYSE:MDA) were down 8.1% on Friday . The company traded as low as $43.16 and last traded at $44.74. Approximately 446,414 shares were traded during trading, a decline of 46% from the average daily volume of 826,010 shares. The stock had previously closed at $48.68.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MDA shares. Royal Bank Of Canada lifted their price target on MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Zacks Research downgraded MDA Space from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Jefferies Financial Group started coverage on MDA Space in a report on Monday, April 6th. They set a “buy” rating and a $41.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.33.

MDA Space Stock Performance

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