Telesat Corp (NASDAQ:TSAT) Short Interest Up 58.3% in October

Telesat Corp (NASDAQ:TSAT) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 157,000 shares, an increase of 58.3% from the October 15th total of 99,200 shares. Based on an average daily volume of 43,900 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Trading of Telesat

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

Analyst Ratings Changes

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

Telesat Stock Down 9.2 %

Shares of Telesat stock opened at $11.99 on Friday. 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 1 year low of $6.93 and a 1 year high of $15.02. The firm’s 50-day moving average is $12.52 and its two-hundred day moving average is $9.99. The stock has a market cap of $163.56 million, a price-to-earnings ratio of 4.93 and a beta of 2.30.

Telesat (NASDAQ:TSAT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($2.87) EPS for the quarter, missing the consensus estimate of $2.47 by ($5.34). The firm had revenue of $111.41 million for the quarter, compared to analysts’ expectations of $106.82 million. Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. As a group, research analysts expect that Telesat will post -0.06 earnings per share for the current fiscal year.

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.