Telesat (NASDAQ:TSAT) Shares Up 2.5% – Should You Buy?

Telesat Corp (NASDAQ:TSAT) shares shot up 2.5% during trading on Tuesday . The stock traded as high as $16.92 and last traded at $16.75. 13,855 shares traded hands during trading, a decline of 66% from the average session volume of 40,302 shares. The stock had previously closed at $16.34.

Analyst Ratings Changes

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

Telesat Stock Performance

The company has a market capitalization of $228.47 million, a price-to-earnings ratio of 6.89 and a beta of 2.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.36 and a quick ratio of 4.36. The company’s 50-day moving average price is $13.82 and its two-hundred day moving average price is $11.19.

Institutional Investors Weigh In On Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. increased its position in shares of Telesat Corp (NASDAQ:TSAT) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 365,781 shares of the company’s stock after buying an additional 75,000 shares during the quarter. Simplify Asset Management Inc. owned about 2.68% of Telesat worth $3,329,000 at the end of the most recent quarter.

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.