Telesat Corp (NASDAQ:TSAT) Short Interest Down 21.6% in December

Telesat Corp (NASDAQ:TSAT) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 94,800 shares, a decrease of 21.6% from the November 30th total of 120,900 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 61,300 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. increased its holdings in Telesat Corp (NASDAQ:TSAT) by 25.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 365,781 shares of the company’s stock after purchasing an additional 75,000 shares during the quarter. Simplify Asset Management Inc. owned 2.68% of Telesat worth $3,329,000 at the end of the most recent reporting period.

Telesat Stock Performance

Telesat stock traded down $0.04 during midday trading on Monday, hitting $16.33. 36,339 shares of the company were exchanged, compared to its average volume of 40,168. Telesat has a fifty-two week low of $6.93 and a fifty-two week high of $18.80. The firm has a market capitalization of $222.76 million, a PE ratio of 6.72 and a beta of 2.30. The business has a fifty day simple moving average of $13.99 and a two-hundred day simple moving average of $11.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36.

Wall Street Analyst Weigh In

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

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.