Magellan Aerospace Co. (OTCMKTS:MALJF) Sees Large Decline in Short Interest

Magellan Aerospace Co. (OTCMKTS:MALJF) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 1,200 shares, a drop of 33.3% from the February 28th total of 1,800 shares. Based on an average trading volume of 3,600 shares, the days-to-cover ratio is presently 0.3 days.

Magellan Aerospace Stock Performance

Shares of OTCMKTS MALJF traded down $0.13 during mid-day trading on Monday, reaching $8.87. The company had a trading volume of 3,584 shares, compared to its average volume of 2,092. The company has a 50-day moving average price of $7.20 and a two-hundred day moving average price of $7.25. Magellan Aerospace has a 1-year low of $5.48 and a 1-year high of $9.51.

Magellan Aerospace Company Profile

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.