Telesat Corp (NASDAQ:TSAT) Sees Significant Increase in Short Interest

Telesat Corp (NASDAQ:TSAT) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 157,000 shares, a growth of 58.3% from the October 15th total of 99,200 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 43,900 shares, the days-to-cover ratio is currently 3.6 days.

Telesat Price Performance

TSAT stock opened at $11.99 on Friday. Telesat has a 52-week low of $6.93 and a 52-week high of $15.02. The company has a quick ratio of 6.13, a current ratio of 6.13 and a debt-to-equity ratio of 1.15. The stock has a market cap of $163.56 million, a price-to-earnings ratio of 4.93 and a beta of 2.30. The business has a fifty day moving average of $12.52 and a two-hundred day moving average of $9.99.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($5.34). The company had revenue of $111.41 million during the quarter, compared to analysts’ expectations of $106.82 million. Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. As a group, research analysts anticipate that Telesat will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Telesat

An institutional investor recently raised its position in Telesat stock. Gamco Investors INC. ET AL raised its position in shares of Telesat Corp (NASDAQ:TSAT) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,139,479 shares of the company’s stock after buying an additional 18,251 shares during the period. Gamco Investors INC. ET AL owned about 16.70% of Telesat worth $18,228,000 as of its most recent filing with the Securities & Exchange Commission.

Analyst Upgrades and Downgrades

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

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.