Telesat Corp (NASDAQ:TSAT) Short Interest Down 18.0% in December

Posted by Stacy Sanders on Jan 17th, 2025

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

Telesat Stock Performance

Shares of NASDAQ TSAT opened at $15.75 on Friday. The company’s fifty day moving average price is $15.04 and its 200 day moving average price is $12.15. Telesat has a 1 year low of $6.93 and a 1 year high of $19.37. The company has a market capitalization of $214.83 million, a PE ratio of 6.48 and a beta of 2.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36.

Hedge Funds Weigh In On Telesat

An institutional investor recently raised its position in Telesat stock. Simplify Asset Management Inc. raised its stake in shares of Telesat Corp (NASDAQ:TSAT – Free Report) by 25.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,781 shares of the company’s stock after purchasing an additional 75,000 shares during the period. Simplify Asset Management Inc. owned 2.68% of Telesat worth $3,329,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Telesat to a “moderate buy” rating in a report on Friday, September 20th.

Read Our Latest Stock Analysis on Telesat

Telesat Company Profile

(Get Free Report)

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.