Telesat Corp (NASDAQ:TSAT - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 372,300 shares, a growth of 76.9% from the April 30th total of 210,500 shares. Based on an average daily trading volume, of 87,900 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.9% of the company's stock are short sold.
Telesat Stock Down 0.6%
Shares of Telesat stock traded down $0.10 on Wednesday, hitting $15.92. The company had a trading volume of 47,997 shares, compared to its average volume of 58,037. The firm has a market capitalization of $217.16 million, a P/E ratio of 6.55 and a beta of 2.02. Telesat has a twelve month low of $7.21 and a twelve month high of $25.38. 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 stock has a 50-day moving average of $16.60 and a 200-day moving average of $17.29.
Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of ($0.56) by $1.09. The company had revenue of $81.12 million during the quarter, compared to analysts' expectations of $106.67 million. Telesat had a net margin of 7.99% and a negative return on equity of 3.16%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in TSAT. Acadian Asset Management LLC lifted its position in shares of Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company's stock worth $119,000 after purchasing an additional 2,473 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Telesat in the 1st quarter valued at approximately $188,000. PDT Partners LLC bought a new position in Telesat during the 1st quarter worth approximately $200,000. Trexquant Investment LP raised its holdings in Telesat by 115.2% during the 1st quarter. Trexquant Investment LP now owns 29,164 shares of the company's stock worth $549,000 after purchasing an additional 15,613 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Telesat by 35.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,053 shares of the company's stock worth $1,225,000 after purchasing an additional 17,133 shares during the last quarter.
About Telesat
(
Get Free Report)
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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