Telesat (NASDAQ:TSAT) Trading Down 4% - Time to Sell?

Shares of Telesat Corp (NASDAQ:TSAT - Get Free Report) were down 4% during mid-day trading on Tuesday . The stock traded as low as $12.00 and last traded at $12.01. Approximately 45,676 shares were traded during trading, an increase of 30% from the average daily volume of 35,227 shares. The stock had previously closed at $12.51.

Wall Street Analysts Forecast Growth

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

Telesat Price Performance

The firm has a market capitalization of $159.59 million, a P/E ratio of 7.96 and a beta of 2.30. The business's fifty day moving average is $12.30 and its 200 day moving average is $9.78. The company has a current ratio of 6.13, a quick ratio of 6.13 and a debt-to-equity ratio of 1.15.

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

Institutional Trading of Telesat

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Telesat in the first quarter worth approximately $51,000. Simplify Asset Management Inc. grew its position in Telesat by 25.8% during the 2nd quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company's stock worth $3,329,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Telesat by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company's stock valued at $18,228,000 after buying an additional 18,251 shares in the last quarter.

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.