Telesat (NASDAQ:TSAT) Hits New 1-Year High – Still a Buy?

Telesat Corporation (NASDAQ:TSAT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.93 and last traded at $36.8410, with a volume of 23384 shares changing hands. The stock had previously closed at $34.80.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Telesat Stock Performance

The company has a market cap of $509.59 million, a P/E ratio of -4.55 and a beta of 1.95. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $30.39 and a 200-day moving average of $28.38.

Institutional Investors Weigh In On Telesat

Several institutional investors have recently added to or reduced their stakes in TSAT. Virtu Financial LLC acquired a new position in shares of Telesat during the fourth quarter valued at about $211,000. XTX Topco Ltd purchased a new stake in shares of Telesat in the fourth quarter valued at approximately $286,000. Quadrature Capital Ltd acquired a new position in Telesat during the fourth quarter worth $602,000. Millennium Management LLC grew its position in shares of Telesat by 245.4% in the fourth quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock valued at $3,739,000 after purchasing an additional 91,272 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of Telesat during the fourth quarter worth about $1,208,000.

Telesat Company Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.