Short Interest in Telesat Corp (NASDAQ:TSAT) Grows By 27.3%

Telesat Corp (NASDAQ:TSAT) saw a significant 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 presently 2.2 days. Currently, 1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Telesat

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LM Asset IM Inc. purchased a new position in shares of Telesat in the 4th quarter valued at approximately $13,290,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Telesat by 12.2% in the 4th 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. acquired a new stake in Telesat in the fourth quarter valued at about $649,000. Squarepoint Ops LLC acquired a new stake in Telesat in the fourth quarter valued at about $552,000. Finally, Millennium Management LLC acquired a new position in Telesat during the 4th quarter worth approximately $368,000.

Telesat Stock Down 1.3 %

Telesat stock opened at $18.83 on Tuesday. The company has a market capitalization of $256.86 million, a P/E ratio of 7.75 and a beta of 2.35. 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 $25.38. The stock has a 50-day simple moving average of $19.69 and a 200-day simple moving average of $16.05.

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

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.