Telesat Corp (NASDAQ:TSAT) Sees Significant Decrease in Short Interest

Telesat Corp (NASDAQ:TSAT) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 77,700 shares, a drop of 18.0% from the December 15th total of 94,800 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 61,400 shares, the days-to-cover ratio is presently 1.3 days.

Telesat Price Performance

Shares of Telesat stock traded up $0.50 during midday trading on Friday, hitting $16.25. 82,023 shares of the company traded hands, compared to its average volume of 51,026. The firm’s fifty day moving average price is $15.13 and its 200-day moving average price is $12.21. The stock has a market cap of $221.65 million, a price-to-earnings ratio of 6.69 and a beta of 2.25. Telesat has a 12 month low of $6.93 and a 12 month high of $19.37. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36.

Wall Street Analyst Weigh In

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

Institutional Trading of Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. grew its position in shares of Telesat Corp (NASDAQ:TSAT) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 Company Profile

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.