Magellan Aerospace Co. (OTCMKTS:MALJF) Sees Significant Drop in Short Interest

Magellan Aerospace Co. (OTCMKTS:MALJF) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,700 shares, a drop of 30.8% from the August 15th total of 3,900 shares. Based on an average daily trading volume, of 2,300 shares, the days-to-cover ratio is currently 1.2 days.

Magellan Aerospace Stock Performance

OTCMKTS MALJF remained flat at $6.87 on Monday. The company’s stock had a trading volume of 10 shares, compared to its average volume of 2,138. Magellan Aerospace has a 1-year low of $5.03 and a 1-year high of $7.20. The firm’s 50-day simple moving average is $6.55 and its 200-day simple moving average is $6.15.

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.