Short Interest in Telesat Corp (NASDAQ:TSAT) Drops By 21.6%

Telesat Corp (NASDAQ:TSAT) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 94,800 shares, a decline of 21.6% from the November 30th total of 120,900 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 61,300 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Cormark upgraded Telesat to a “moderate buy” rating in a report on Friday, September 20th.

Institutional Trading of Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. increased its stake in shares of Telesat Corp (NASDAQ:TSAT) by 25.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,781 shares of the company’s stock after purchasing an additional 75,000 shares during the quarter. Simplify Asset Management Inc. owned approximately 2.68% of Telesat worth $3,329,000 as of its most recent SEC filing.

Telesat Stock Down 0.2 %

Shares of TSAT traded down $0.04 during mid-day trading on Monday, hitting $16.33. The company’s stock had a trading volume of 36,339 shares, compared to its average volume of 40,168. The firm has a market capitalization of $222.76 million, a price-to-earnings ratio of 6.72 and a beta of 2.30. The company’s 50-day moving average is $13.99 and its 200-day moving average is $11.36. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11. Telesat has a 52-week low of $6.93 and a 52-week high of $18.80.

About Telesat

Telesat Corporation, a satellite operator, provides mission-critical communications solutions to broadcast, enterprise, and consulting customers worldwide. The company’s satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers’ homes; and enables broadcasters, cable networks, and DTH service providers to transmit television programming services.