Telesat Corp (NASDAQ:TSAT) Sees Large Decline in Short Interest

Telesat Corp (NASDAQ:TSAT) saw a significant decrease in short interest in 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. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 32,000 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Garnet Equity Capital Holdings Inc. lifted its stake in Telesat by 27.7% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 101,314 shares of the company’s stock valued at $1,057,000 after acquiring an additional 22,000 shares during the last quarter. Heard Capital LLC lifted its stake in Telesat by 1.1% in the fourth quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock valued at $18,553,000 after acquiring an additional 19,815 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Telesat in the fourth quarter valued at $206,000. Gamco Investors INC. ET AL lifted its stake in Telesat by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company’s stock valued at $18,228,000 after acquiring an additional 18,251 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Telesat by 6,039.8% in the fourth quarter. National Bank of Canada FI now owns 6,324 shares of the company’s stock valued at $66,000 after acquiring an additional 6,221 shares during the last quarter.

Telesat Stock Performance

Shares of TSAT opened at $8.31 on Friday. Telesat has a 12 month low of $6.93 and a 12 month high of $22.75. The firm has a fifty day simple moving average of $8.61 and a 200 day simple moving average of $8.68. The stock has a market capitalization of $113.35 million, a price-to-earnings ratio of 1.16 and a beta of 2.25. The company has a current ratio of 11.69, a quick ratio of 11.69 and a debt-to-equity ratio of 1.34.

Telesat (NASDAQ:TSAT) last announced its earnings results on Friday, May 10th. The company reported ($0.80) EPS for the quarter, hitting the consensus estimate of ($0.80). Telesat had a net margin of 20.08% and a negative return on equity of 2.57%. The business had revenue of $112.88 million during the quarter, compared to analysts’ expectations of $107.27 million. Research analysts forecast that Telesat will post -6.73 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of Telesat in a report on Tuesday, April 30th. They issued a “hold” rating and a $9.00 price target for the company.

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.