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

Telesat Corp (NASDAQ:TSAT) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 142,800 shares, a growth of 80.8% from the January 15th total of 79,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 61,800 shares, the days-to-cover ratio is currently 2.3 days.

Telesat Stock Performance

Telesat stock traded down $1.28 during midday trading on Friday, reaching $21.49. The stock had a trading volume of 91,816 shares, compared to its average volume of 52,065. Telesat has a 12 month low of $6.93 and a 12 month high of $23.62. The firm’s 50-day moving average price is $17.72 and its 200 day moving average price is $13.70. The firm has a market capitalization of $293.12 million, a PE ratio of 8.84 and a beta of 2.25. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11.

Institutional Investors Weigh In On Telesat

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Telesat by 1,395.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock worth $43,000 after purchasing an additional 2,456 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Telesat in the fourth quarter worth approximately $223,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased 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 worth $1,654,000 after purchasing an additional 10,900 shares during the last quarter.

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.