Telesat Corp (NASDAQ:TSAT – Get Free Report)’s share price traded up 5.1% during trading on Thursday . The stock traded as high as $17.99 and last traded at $17.81. 95,077 shares were traded during trading, an increase of 67% from the average session volume of 56,844 shares. The stock had previously closed at $16.95.
Telesat Stock Performance
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 company has a market cap of $242.95 million, a price-to-earnings ratio of 7.33 and a beta of 2.35. The stock has a 50 day moving average price of $18.16 and a two-hundred day moving average price of $14.71.
Hedge Funds Weigh In On Telesat
Several hedge funds have recently added to or reduced their stakes in TSAT. JPMorgan Chase & Co. increased its stake in shares of Telesat by 1,395.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock valued at $43,000 after acquiring an additional 2,456 shares during the last quarter. Bank of America Corp DE grew its holdings in Telesat by 13.7% during the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company’s stock valued at $121,000 after purchasing an additional 889 shares during the period. Trexquant Investment LP bought a new stake in Telesat in the fourth quarter valued at approximately $223,000. Millennium Management LLC acquired a new stake in Telesat in the fourth quarter worth $368,000. Finally, Squarepoint Ops LLC bought a new position in shares of Telesat during the fourth quarter worth $552,000.
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.
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