Telesat (NASDAQ:TSAT) Trading 5.1% Higher – Time to Buy?

Telesat Corp (NASDAQ:TSAT)’s share price traded up 5.1% during mid-day trading on Thursday . The company traded as high as $17.99 and last traded at $17.81. 95,077 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 56,844 shares. The stock had previously closed at $16.95.

Telesat Stock Performance

The stock has a market cap of $242.95 million, a price-to-earnings ratio of 7.33 and a beta of 2.35. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11. The company has a 50 day simple moving average of $18.16 and a 200 day simple moving average of $14.71.

Hedge Funds Weigh In On Telesat

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSAT. LM Asset IM Inc. acquired a new position in Telesat during the 4th quarter worth about $13,290,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Telesat by 12.2% in the fourth 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 during the period. Aristeia Capital L.L.C. bought a new stake in Telesat in the fourth quarter valued at approximately $649,000. Squarepoint Ops LLC bought a new stake in Telesat in the fourth quarter valued at approximately $552,000. Finally, Millennium Management LLC bought a new position in Telesat during the 4th quarter worth 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.