Short Interest in Magellan Aerospace Co. (OTCMKTS:MALJF) Declines By 30.8%

Magellan Aerospace Co. (OTCMKTS:MALJF) was the target of a significant drop in short interest during 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 trading volume of 2,300 shares, the days-to-cover ratio is presently 1.2 days.

Magellan Aerospace Stock Up 0.9 %

OTCMKTS MALJF traded up $0.06 on Friday, hitting $6.89. 1,000 shares of the company’s stock were exchanged, compared to its average volume of 2,138. The stock has a 50-day moving average of $6.55 and a 200-day moving average of $6.14. Magellan Aerospace has a 52 week low of $5.03 and a 52 week high of $7.20.

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.