Telesat (NASDAQ:TSAT) Trading 2.5% Higher – Here’s Why

Telesat Corp (NASDAQ:TSAT) rose 2.5% during mid-day trading on Tuesday . The company traded as high as $16.92 and last traded at $16.75. Approximately 13,855 shares were traded during trading, a decline of 66% from the average daily volume of 40,302 shares. The stock had previously closed at $16.34.

Analyst Ratings Changes

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

Telesat Stock Performance

The company has a 50-day moving average of $13.82 and a 200-day moving average of $11.19. The company has a market cap of $228.47 million, a PE ratio of 6.89 and a beta of 2.30. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11.

Institutional Trading of Telesat

An institutional investor recently raised its position in Telesat stock. Simplify Asset Management Inc. boosted its position in Telesat Corp (NASDAQ:TSAT) by 25.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 365,781 shares of the company’s stock after purchasing an additional 75,000 shares during the period. Simplify Asset Management Inc. owned about 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.