Magellan Aerospace Co. (OTCMKTS:MALJF) Short Interest Down 14.3% in June

Magellan Aerospace Co. (OTCMKTS:MALJF) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 600 shares, a drop of 14.3% from the May 31st total of 700 shares. Based on an average daily volume of 900 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

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

Magellan Aerospace Stock Performance

Shares of MALJF stock remained flat at $5.94 during trading on Monday. The company had a trading volume of 97 shares, compared to its average volume of 2,378. Magellan Aerospace has a 1-year low of $5.03 and a 1-year high of $6.29. The business has a fifty day moving average price of $5.90 and a two-hundred day moving average price of $5.85.

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.