Magellan Aerospace (OTCMKTS:MALJF) Shares Down 1.5%

Magellan Aerospace Co. (OTCMKTS:MALJF) fell 1.5% on Friday . The company traded as low as $5.77 and last traded at $5.77. 12,000 shares traded hands during trading, an increase of 386% from the average session volume of 2,467 shares. The stock had previously closed at $5.86.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their target price on Magellan Aerospace from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th.

Magellan Aerospace Stock Down 1.5 %

The stock has a fifty day simple moving average of $5.96 and a two-hundred day simple moving average of $5.74.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.