Magellan Aerospace Co. (OTCMKTS:MALJF – Get Rating) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,900 shares, a growth of 30.0% from the May 31st total of 3,000 shares. Based on an average daily volume of 600 shares, the days-to-cover ratio is presently 6.5 days.
Separately, TD Securities decreased their target price on shares of Magellan Aerospace from C$11.00 to C$10.50 in a research report on Wednesday, May 11th.
Get Magellan Aerospace alerts:OTCMKTS:MALJF opened at $5.85 on Tuesday. Magellan Aerospace has a fifty-two week low of $5.72 and a fifty-two week high of $8.89. The company has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $7.26.
Magellan Aerospace Company Profile (Get Rating)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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