Telesat (NASDAQ:TSAT) Trading Up 2.5% – Time to Buy?

Telesat Corp (NASDAQ:TSAT) shares traded up 2.5% on Tuesday . The company traded as high as $16.92 and last traded at $16.75. 13,855 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 40,302 shares. The stock had previously closed at $16.34.

Analysts Set New Price Targets

Separately, Cormark upgraded Telesat to a “moderate buy” rating in a research note on Friday, September 20th.

Telesat Price Performance

The stock has a market cap of $226.58 million, a PE ratio of 6.84 and a beta of 2.30. 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 firm’s 50 day moving average price is $13.88 and its two-hundred day moving average price is $11.23.

Institutional Trading of Telesat

A hedge fund recently raised its stake in Telesat stock. Simplify Asset Management Inc. raised its stake in Telesat Corp (NASDAQ:TSAT) by 25.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,781 shares of the company’s stock after buying an additional 75,000 shares during the period. Simplify Asset Management Inc. owned about 2.68% of Telesat worth $3,329,000 at the end of the most recent quarter.

About Telesat

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.