Telesat Corp (NASDAQ:TSAT - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 94,800 shares, a drop of 21.6% from the November 30th total of 120,900 shares. Approximately 0.8% of the company's stock are short sold. Based on an average daily volume of 61,300 shares, the days-to-cover ratio is currently 1.5 days.
Telesat Stock Down 3.6 %
Shares of TSAT traded down $0.61 during mid-day trading on Friday, hitting $16.37. 29,684 shares of the company's stock were exchanged, compared to its average volume of 40,184. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.36 and a quick ratio of 4.36. Telesat has a 52 week low of $6.93 and a 52 week high of $18.80. The company has a market cap of $223.30 million, a PE ratio of 6.74 and a beta of 2.30. The company has a 50-day simple moving average of $13.99 and a 200 day simple moving average of $11.34.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. grew its stake in Telesat Corp (NASDAQ:TSAT - Free Report) by 25.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,781 shares of the company's stock after acquiring an additional 75,000 shares during the period. Simplify Asset Management Inc. owned 2.68% of Telesat worth $3,329,000 at the end of the most recent quarter.
Wall Street Analysts Forecast Growth
Separately, Cormark raised Telesat to a "moderate buy" rating in a research report on Friday, September 20th.
Check Out Our Latest Stock Analysis on TSAT
Telesat Company Profile
(
Get Free Report)
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.
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