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

Telesat Corp (NASDAQ:TSAT - Get Free Report) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 157,000 shares, a growth of 58.3% from the October 15th total of 99,200 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 43,900 shares, the short-interest ratio is presently 3.6 days.

Hedge Funds Weigh In On Telesat

A hedge fund recently raised its stake 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

Shares of TSAT stock traded up $0.59 during trading hours on Thursday, reaching $13.21. The stock had a trading volume of 57,994 shares, compared to its average volume of 36,092. The company has a debt-to-equity ratio of 1.15, a current ratio of 6.13 and a quick ratio of 6.13. Telesat has a twelve month low of $6.93 and a twelve month high of $15.02. The firm has a 50-day simple moving average of $12.46 and a 200-day simple moving average of $9.94. The firm has a market capitalization of $180.18 million, a PE ratio of 8.59 and a beta of 2.30.

Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($5.34). Telesat had a negative return on equity of 5.90% and a net margin of 4.59%. The firm had revenue of $111.41 million during the quarter, compared to analyst estimates of $106.82 million. As a group, equities analysts forecast that Telesat will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.