Telesat Corp (NASDAQ:TSAT) Short Interest Down 18.0% in December

Telesat Corp (NASDAQ:TSAT) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 77,700 shares, a drop of 18.0% from the December 15th total of 94,800 shares. Based on an average daily trading volume, of 61,400 shares, the short-interest ratio is currently 1.3 days. Currently, 0.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Cormark raised Telesat to a “moderate buy” rating in a report on Friday, September 20th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Telesat stock. Simplify Asset Management Inc. increased its holdings in shares of Telesat Corp (NASDAQ:TSAT) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 365,781 shares of the company’s stock after acquiring an additional 75,000 shares during the quarter. Simplify Asset Management Inc. owned about 2.68% of Telesat worth $3,329,000 as of its most recent filing with the SEC.

Telesat Stock Performance

Shares of NASDAQ TSAT traded up $0.50 during mid-day trading on Friday, reaching $16.25. 82,023 shares of the company were exchanged, compared to its average volume of 51,026. The stock has a market capitalization of $221.65 million, a P/E ratio of 6.69 and a beta of 2.25. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11. The company’s 50-day simple moving average is $15.13 and its 200-day simple moving average is $12.21. Telesat has a twelve month low of $6.93 and a twelve month high of $19.37.

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.