Short Interest in Telesat Corp (NASDAQ:TSAT) Increases By 80.8%

Telesat Corp (NASDAQ:TSAT) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 142,800 shares, an increase of 80.8% from the January 15th total of 79,000 shares. Based on an average trading volume of 61,800 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.2% of the company’s shares are sold short.

Telesat Trading Up 1.5 %

Shares of TSAT stock opened at $22.77 on Friday. The company’s 50-day moving average price is $17.60 and its 200-day moving average price is $13.61. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11. The stock has a market cap of $310.58 million, a price-to-earnings ratio of 9.37 and a beta of 2.25. Telesat has a twelve month low of $6.93 and a twelve month high of $23.49.

Institutional Trading of Telesat

Several institutional investors and hedge funds have recently bought and sold shares of TSAT. Trexquant Investment LP purchased a new stake in Telesat in the 4th quarter valued at about $223,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Telesat by 12.2% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock worth $1,654,000 after purchasing an additional 10,900 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Telesat by 1,395.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock worth $43,000 after purchasing an additional 2,456 shares during the period.

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.