Short Interest in Telesat Corp (NASDAQ:TSAT) Drops By 21.6%

Telesat Corp (NASDAQ:TSAT) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 94,800 shares, a decrease of 21.6% from the November 30th total of 120,900 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 61,300 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Telesat

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

Wall Street Analysts Forecast Growth

Separately, Cormark upgraded Telesat to a “moderate buy” rating in a research note on Friday, September 20th.

Telesat Price Performance

Shares of NASDAQ:TSAT opened at $16.33 on Tuesday. 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 12 month low of $6.93 and a 12 month high of $18.80. The firm has a market capitalization of $222.76 million, a P/E ratio of 6.72 and a beta of 2.30. The company’s fifty day moving average price is $13.99 and its 200 day moving average price is $11.36.

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.