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

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

Magellan Aerospace Price Performance

Shares of OTCMKTS MALJF traded up $0.03 on Friday, reaching $9.00. 1,986 shares of the company’s stock traded hands, compared to its average volume of 2,064. The business’s 50 day simple moving average is $7.20 and its two-hundred day simple moving average is $7.24. Magellan Aerospace has a 12 month low of $5.48 and a 12 month high of $9.51.

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.