Telesat Corp (NASDAQ:TSAT) Short Interest Up 80.8% in January

Telesat Corp (NASDAQ:TSAT) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 142,800 shares, an increase of 80.8% from the January 15th total of 79,000 shares. Based on an average trading volume of 61,800 shares, the short-interest ratio is currently 2.3 days. Currently, 1.2% of the company’s stock are short sold.

Telesat Stock Up 2.5 %

Shares of NASDAQ TSAT traded up $0.56 during mid-day trading on Thursday, reaching $23.00. 94,181 shares of the company traded hands, compared to its average volume of 56,015. The stock has a market cap of $313.70 million, a PE ratio of 9.46 and a beta of 2.25. The company’s fifty day moving average is $17.41 and its two-hundred day moving average is $13.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36. Telesat has a fifty-two week low of $6.93 and a fifty-two week high of $23.49.

Institutional Trading of Telesat

A hedge fund recently raised its stake in Telesat stock. JPMorgan Chase & Co. grew its position in Telesat Corp (NASDAQ:TSAT) by 1,395.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,632 shares of the company’s stock after acquiring an additional 2,456 shares during the quarter. JPMorgan Chase & Co.’s holdings in Telesat were worth $43,000 as of its most recent SEC filing.

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.