Short Interest in Telesat Corp (NASDAQ:TSAT) Increases By 58.3%

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

Telesat Stock Up 6.1 %

Shares of Telesat stock opened at $12.62 on Thursday. 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 has a market cap of $172.14 million, a P/E ratio of 8.59 and a beta of 2.30. The firm’s 50 day moving average price is $12.46 and its 200-day moving average price is $9.94. Telesat has a 52-week low of $6.93 and a 52-week high of $15.02.

Telesat (NASDAQ:TSAT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($2.87) EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($5.34). The business had revenue of $111.41 million during the quarter, compared to analysts’ expectations of $106.82 million. Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. On average, sell-side analysts predict that Telesat will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Telesat

A hedge fund recently raised its stake in Telesat stock. Gamco Investors INC. ET AL lifted its holdings in shares of Telesat Corp (NASDAQ:TSAT) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,139,479 shares of the company’s stock after buying an additional 18,251 shares during the quarter. Gamco Investors INC. ET AL owned approximately 16.70% of Telesat worth $18,228,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

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

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.