Telesat Corp (NASDAQ:TSAT) Short Interest Up 27.3% in March

Telesat Corp (NASDAQ:TSAT) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 154,300 shares, an increase of 27.3% from the February 28th total of 121,200 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 71,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LM Asset IM Inc. acquired a new stake in shares of Telesat during the 4th quarter valued at $13,290,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Telesat by 12.2% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock valued at $1,654,000 after purchasing an additional 10,900 shares during the last quarter. Aristeia Capital L.L.C. purchased a new position in Telesat in the fourth quarter valued at about $649,000. Squarepoint Ops LLC acquired a new position in Telesat in the 4th quarter worth about $552,000. Finally, Millennium Management LLC purchased a new stake in shares of Telesat during the 4th quarter worth about $368,000.

Telesat Stock Down 0.1 %

Shares of TSAT traded down $0.02 during mid-day trading on Wednesday, reaching $17.83. The company’s stock had a trading volume of 10,568 shares, compared to its average volume of 50,663. The company has a market cap of $243.15 million, a price-to-earnings ratio of 7.32 and a beta of 2.35. The business has a fifty day moving average of $19.70 and a 200 day moving average of $16.09. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11. Telesat has a 1 year low of $6.93 and a 1 year high of $25.38.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($4.69). Telesat had a negative return on equity of 3.16% and a net margin of 7.99%. The business had revenue of $88.94 million during the quarter, compared to analysts’ expectations of $120.60 million.

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.