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

Telesat Corp (NASDAQ:TSAT) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 142,800 shares, a growth of 80.8% from the January 15th total of 79,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 61,800 shares, the days-to-cover ratio is presently 2.3 days.

Telesat Stock Performance

NASDAQ:TSAT traded down $1.28 during midday trading on Friday, reaching $21.49. The stock had a trading volume of 91,816 shares, compared to its average volume of 52,065. 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 1-year low of $6.93 and a 1-year high of $23.62. The firm’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $13.70. The stock has a market capitalization of $293.12 million, a P/E ratio of 8.84 and a beta of 2.25.

Hedge Funds Weigh In On Telesat

Several institutional investors have recently added to or reduced their stakes in TSAT. Trexquant Investment LP acquired a new stake in shares of Telesat during the 4th quarter worth approximately $223,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Telesat by 12.2% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock valued at $1,654,000 after buying an additional 10,900 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Telesat by 1,395.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock valued at $43,000 after buying an additional 2,456 shares in the last quarter.

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.