MDA Space (NYSE:MDA) Stock Price Target Cut by JPMorgan Chase & Co.

MDA Space (NYSE:MDA) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $50.00 to $44.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 43.79% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a research note on Monday, August 17th. National Bank Financial started coverage on shares of MDA Space in a research report on Monday, September 14th. They issued an “outperform” rating for the company. Weiss Ratings cut shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Jefferies Financial Group restated a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 price target on shares of MDA Space in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, MDA Space currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

MDA Space Stock Performance

MDA stock traded down $0.14 during midday trading on Tuesday, reaching $30.60. The company had a trading volume of 315,948 shares, compared to its average volume of 1,323,871. The firm has a market capitalization of $4.96 billion and a PE ratio of 56.67. The stock has a 50 day moving average price of $28.95 and a 200 day moving average price of $33.21. MDA Space has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. Analysts anticipate that MDA Space will post 0.96 earnings per share for the current year.

Institutional Trading of MDA Space

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tacita Capital Inc lifted its holdings in shares of MDA Space by 16,480.0% in the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock valued at $103,000 after buying an additional 2,472 shares during the period. Nykredit A S bought a new stake in shares of MDA Space in the 2nd quarter worth approximately $124,000. Russell Investments Group Ltd. acquired a new stake in MDA Space during the third quarter valued at approximately $190,000. Capstone Investment Advisors LLC acquired a new stake in MDA Space during the second quarter valued at approximately $276,000. Finally, Envestnet Asset Management Inc. bought a new stake in MDA Space during the second quarter worth approximately $317,000.

About MDA Space

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit. The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.