Short Interest in Loral Space & Communications Ltd. (NASDAQ:LORL) Drops By 6.1%

Loral Space & Communications Ltd. (NASDAQ:LORL) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 108,500 shares, a drop of 6.1% from the September 30th total of 115,500 shares. Based on an average daily volume of 37,700 shares, the short-interest ratio is currently 2.9 days. Approximately 0.5% of the company’s shares are sold short.

A number of research firms have weighed in on LORL. ValuEngine raised shares of Loral Space & Communications Ltd. from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. BidaskClub downgraded shares of Loral Space & Communications Ltd. from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 9th.

NASDAQ:LORL traded down $1.17 during trading hours on Tuesday, reaching $35.94. 1,827 shares of the company were exchanged, compared to its average volume of 39,848. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 27.92 and a beta of 0.99. Loral Space & Communications Ltd. has a 52-week low of $33.33 and a 52-week high of $47.07. The stock has a 50 day simple moving average of $40.17 and a 200 day simple moving average of $37.52.

A number of large investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Loral Space & Communications Ltd. by 42.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,000 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 300 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Loral Space & Communications Ltd. by 7.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,489 shares of the communications equipment provider’s stock valued at $189,000 after acquiring an additional 390 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Loral Space & Communications Ltd. by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 96,553 shares of the communications equipment provider’s stock valued at $3,333,000 after acquiring an additional 840 shares during the period. Bank of Montreal Can raised its stake in shares of Loral Space & Communications Ltd. by 106.0% in the 2nd quarter. Bank of Montreal Can now owns 2,066 shares of the communications equipment provider’s stock valued at $71,000 after acquiring an additional 1,063 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Loral Space & Communications Ltd. by 0.7% in the 2nd quarter. Northern Trust Corp now owns 169,635 shares of the communications equipment provider’s stock valued at $5,855,000 after acquiring an additional 1,193 shares during the period. 65.70% of the stock is currently owned by institutional investors.

About Loral Space & Communications Ltd.

Loral Space & Communications Inc, a satellite communications company, offers satellite-based communications services to the broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2018, the company provided satellite services to its customers through a fleet of 17 in-orbit geostationary satellites; and owned the Canadian Ka-band payload on the ViaSat-1 satellite.

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