Magellan Aerospace Co. (OTCMKTS:MALJF – Get Rating)’s share price traded down 2.5% during trading on Thursday . The company traded as low as $5.78 and last traded at $5.80. 1,000 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,837 shares. The stock had previously closed at $5.95.
Separately, TD Securities reduced their price objective on Magellan Aerospace from C$11.00 to C$10.50 in a research note on Wednesday, May 11th.
The business has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $7.34.
Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, manufactures, and sells aero engine and structure components for the aerospace markets in Canada, the United States, Europe, and Asia. It offers aero engine products, such as engine frames, cases, bypass ducts, engine shafts, engine processes, engine materials, metallic honeycomb, filament winding, compressor components, turbine components, and afterburner components, as well as small and large wing components, landing gear, horizontal and vertical stabilizers, and nacelle exhaust systems.
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