Telesat Corp (NASDAQ:TSAT) Short Interest Up 58.3% in October

Telesat Corp (NASDAQ:TSAT) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 157,000 shares, a growth of 58.3% from the October 15th total of 99,200 shares. Based on an average daily trading volume, of 43,900 shares, the days-to-cover ratio is presently 3.6 days. Currently, 1.3% of the shares of the company are sold short.

Telesat Price Performance

Shares of Telesat stock opened at $11.99 on Friday. The firm has a market cap of $163.56 million, a PE ratio of 4.93 and a beta of 2.30. Telesat has a 12-month low of $6.93 and a 12-month high of $15.02. The company has a quick ratio of 6.13, a current ratio of 6.13 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $12.52 and its two-hundred day simple moving average is $9.99.

Telesat (NASDAQ:TSAT) last announced its earnings results on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($5.34). The company had revenue of $111.41 million for the quarter, compared to the consensus estimate of $106.82 million. Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. As a group, equities analysts expect that Telesat will post -0.06 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

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

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.