Telesat Corp (NASDAQ:TSAT – Get Free Report) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 122,200 shares, a decrease of 25.9% from the June 30th total of 165,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is presently 3.8 days.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new position in shares of Telesat in the first quarter worth approximately $51,000. National Bank of Canada FI increased its position in shares of Telesat by 6,039.8% in the fourth quarter. National Bank of Canada FI now owns 6,324 shares of the company’s stock worth $66,000 after purchasing an additional 6,221 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Telesat in the fourth quarter worth approximately $206,000. Garnet Equity Capital Holdings Inc. increased its position in shares of Telesat by 27.7% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 101,314 shares of the company’s stock worth $1,057,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Heard Capital LLC increased its position in shares of Telesat by 1.1% in the fourth quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock worth $18,553,000 after purchasing an additional 19,815 shares during the last quarter.
Telesat Trading Up 3.4 %
Shares of TSAT opened at $8.31 on Friday. The business’s 50-day moving average price is $8.61 and its 200-day moving average price is $8.68. Telesat has a twelve month low of $6.93 and a twelve month high of $22.75. The stock has a market cap of $113.35 million, a PE ratio of 1.16 and a beta of 2.25. The company has a quick ratio of 11.69, a current ratio of 11.69 and a debt-to-equity ratio of 1.34.
Wall Street Analyst Weigh In
Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Telesat in a report on Tuesday, April 30th. They set a “hold” rating and a $9.00 price objective on the stock.
View Our Latest Research Report on TSAT
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.
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