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

Telesat Corp (NASDAQ:TSAT) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 77,700 shares, a drop of 18.0% from the December 31st total of 94,800 shares. Based on an average daily volume of 61,400 shares, the short-interest ratio is currently 1.3 days. Approximately 0.7% of the shares of the company are short sold.

Telesat Stock Performance

Shares of TSAT stock traded down $0.78 during trading on Friday, reaching $18.43. 37,289 shares of the company’s stock traded hands, compared to its average volume of 60,154. The firm’s 50-day moving average is $16.17 and its 200 day moving average is $12.79. The company has a market capitalization of $251.39 million, a P/E ratio of 7.58 and a beta of 2.25. Telesat has a 1 year low of $6.93 and a 1 year high of $19.61. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11.

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.