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

Magellan Aerospace Co. (OTCMKTS:MALJF) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,800 shares, a drop of 33.3% from the August 31st total of 2,700 shares. Based on an average daily volume of 800 shares, the days-to-cover ratio is presently 2.3 days.

Magellan Aerospace Price Performance

OTCMKTS MALJF traded down $0.24 during trading hours on Friday, reaching $6.80. The stock had a trading volume of 2,670 shares, compared to its average volume of 2,072. Magellan Aerospace has a 52-week low of $5.03 and a 52-week high of $7.20. The stock has a fifty day moving average of $6.74 and a 200 day moving average of $6.21.

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.