Telesat Corp (NASDAQ:TSAT) Short Interest Update

Telesat Corp (NASDAQ:TSAT - Get Free Report) was the target 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. Based on an average trading volume of 61,400 shares, the short-interest ratio is presently 1.3 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Telesat to a "moderate buy" rating in a research note on Friday, September 20th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Telesat stock. Simplify Asset Management Inc. raised its stake in shares of Telesat Corp (NASDAQ:TSAT - Free Report) by 25.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 365,781 shares of the company's stock after buying an additional 75,000 shares during the period. Simplify Asset Management Inc. owned approximately 2.68% of Telesat worth $3,329,000 as of its most recent SEC filing.

Telesat Stock Performance

TSAT traded up $0.50 during trading hours on Friday, hitting $16.25. The company's stock had a trading volume of 82,023 shares, compared to its average volume of 56,902. The company has a 50-day simple moving average of $15.04 and a 200 day simple moving average of $12.15. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $221.65 million, a PE ratio of 6.69 and a beta of 2.25. Telesat has a fifty-two week low of $6.93 and a fifty-two week high of $19.37.

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.