Telesat (NASDAQ:TSAT) Shares Up 1.3%

Telesat Corp (NASDAQ:TSAT)’s stock price shot up 1.3% during trading on Friday . The company traded as high as $8.00 and last traded at $7.95. 27,497 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 33,882 shares. The stock had previously closed at $7.85.

Telesat Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 13.19 and a quick ratio of 13.19. The firm has a market capitalization of $101.84 million, a price-to-earnings ratio of 0.95 and a beta of 2.08. The business’s fifty day simple moving average is $8.98 and its 200 day simple moving average is $10.24.

Institutional Investors Weigh In On Telesat

A number of large investors have recently bought and sold shares of TSAT. Gamco Investors INC. ET AL lifted its stake in shares of Telesat by 12.0% in the third quarter. Gamco Investors INC. ET AL now owns 2,012,559 shares of the company’s stock valued at $28,780,000 after buying an additional 215,581 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Telesat in the third quarter valued at $738,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Telesat in the third quarter valued at $406,000. Gabelli Funds LLC lifted its stake in shares of Telesat by 3.6% in the third quarter. Gabelli Funds LLC now owns 1,076,795 shares of the company’s stock valued at $15,398,000 after buying an additional 37,855 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Telesat in the third quarter valued at $177,000.

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.