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

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

Institutional Investors Weigh In On Telesat

A number of large investors have recently added to or reduced their stakes in TSAT. JPMorgan Chase & Co. boosted its holdings in shares of Telesat by 1,395.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock worth $43,000 after buying an additional 2,456 shares during the period. Trexquant Investment LP bought a new stake in Telesat during the fourth quarter valued at about $223,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position 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 valued at $1,654,000 after purchasing an additional 10,900 shares during the last quarter. Aristeia Capital L.L.C. bought a new position in shares of Telesat in the fourth quarter worth about $649,000. Finally, Bank of America Corp DE lifted its position in shares of Telesat by 13.7% during the 4th quarter. Bank of America Corp DE now owns 7,360 shares of the company’s stock worth $121,000 after purchasing an additional 889 shares during the last quarter.

Telesat Stock Down 0.1 %

Shares of Telesat stock traded down $0.02 during midday trading on Wednesday, reaching $17.83. 10,568 shares of the company’s stock traded hands, compared to its average volume of 50,663. 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 52 week low of $6.93 and a 52 week high of $25.38. The company’s 50 day simple moving average is $19.70 and its 200 day simple moving average is $16.09. The company has a market cap of $243.15 million, a price-to-earnings ratio of 7.32 and a beta of 2.35.

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

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.