Telesat Corp (NASDAQ:TSAT) Short Interest Down 21.6% in December

Telesat Corp (NASDAQ:TSAT) saw a large decrease in short interest during the month of 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 daily volume of 61,300 shares, the short-interest ratio is presently 1.5 days.

Telesat Trading Down 3.6 %

Shares of NASDAQ:TSAT opened at $16.37 on Friday. Telesat has a 52 week low of $6.93 and a 52 week high of $18.80. The company’s 50 day moving average is $13.99 and its two-hundred day moving average is $11.34. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11. The company has a market cap of $223.30 million, a PE ratio of 6.74 and a beta of 2.30.

Institutional Investors Weigh In On Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. lifted its stake in 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 fund owned 365,781 shares of the company’s stock after buying an additional 75,000 shares during the period. Simplify Asset Management Inc. owned approximately 2.68% of Telesat worth $3,329,000 at the end of the most recent quarter.

Analyst Ratings Changes

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

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.