Telesat Corp (NASDAQ:TSAT) Short Interest Up 27.3% in March

Telesat Corp (NASDAQ:TSAT) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 154,300 shares, a growth of 27.3% from the February 28th total of 121,200 shares. Based on an average trading volume of 71,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.3% of the company’s shares are short sold.

Telesat Stock Performance

Shares of TSAT stock opened at $18.83 on Tuesday. 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 $256.86 million, a P/E ratio of 7.75 and a beta of 2.35. The firm’s 50 day moving average price is $19.69 and its 200-day moving average price is $16.05. Telesat has a one year low of $6.93 and a one year high of $25.38.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($4.69). Telesat had a net margin of 7.99% and a negative return on equity of 3.16%. The firm had revenue of $88.94 million during the quarter, compared to analyst estimates of $120.60 million.

Institutional Investors Weigh In On Telesat

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in Telesat by 13.7% in the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company’s stock valued at $121,000 after buying an additional 889 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Telesat by 1,395.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock valued at $43,000 after acquiring an additional 2,456 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Telesat by 12.2% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock worth $1,654,000 after acquiring an additional 10,900 shares in the last quarter. Trexquant Investment LP purchased a new stake in Telesat during the fourth quarter worth approximately $223,000. Finally, Millennium Management LLC acquired a new position in Telesat in the fourth quarter valued at approximately $368,000.

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.