Magellan Aerospace Co. (OTCMKTS:MALJF – Get Free Report) 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.
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Magellan Aerospace Stock Performance
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.
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