Telesat Corp (NASDAQ:TSAT) Sees Large Drop in Short Interest

Telesat Corp (NASDAQ:TSAT) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 77,700 shares, a drop of 18.0% from the December 15th total of 94,800 shares. Based on an average trading volume of 61,400 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Telesat Stock Performance

TSAT stock traded up $0.30 during mid-day trading on Thursday, hitting $15.70. The company had a trading volume of 36,496 shares, compared to its average volume of 46,308. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36. The firm has a market cap of $214.15 million, a PE ratio of 6.46 and a beta of 2.25. Telesat has a 12 month low of $6.93 and a 12 month high of $19.37. The stock’s fifty day moving average price is $14.95 and its two-hundred day moving average price is $12.13.

Institutional Investors Weigh In On 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% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,781 shares of the company’s stock after buying an additional 75,000 shares during the quarter. Simplify Asset Management Inc. owned about 2.68% of Telesat worth $3,329,000 at the end of the most recent reporting period.

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.