Telesat Corp (NASDAQ:TSAT) Short Interest Up 76.9% in May

Telesat Corp (NASDAQ:TSAT) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 372,300 shares, an increase of 76.9% from the April 30th total of 210,500 shares. Based on an average daily trading volume, of 87,900 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Telesat

A number of institutional investors have recently made changes to their positions in TSAT. LM Asset IM Inc. purchased a new stake in Telesat during the fourth quarter valued at about $13,290,000. Vestcor Inc purchased a new stake in Telesat during the 1st quarter valued at about $2,354,000. PCJ Investment Counsel Ltd. purchased a new stake in Telesat during the 1st quarter valued at about $2,103,000. Dakota Wealth Management purchased a new stake in Telesat during the 1st quarter valued at about $1,898,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Telesat by 12.2% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock valued at $1,654,000 after acquiring an additional 10,900 shares during the period.

Telesat Trading Down 1.3%

Shares of TSAT stock opened at $16.11 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36. Telesat has a 52-week low of $7.21 and a 52-week high of $25.38. The company has a market capitalization of $219.76 million, a PE ratio of 6.63 and a beta of 2.02. The business’s fifty day moving average is $16.85 and its 200 day moving average is $17.22.

Telesat (NASDAQ:TSAT) last issued its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $1.09. Telesat had a negative return on equity of 3.16% and a net margin of 7.99%. The business had revenue of $81.12 million during the quarter, compared to analyst estimates of $106.67 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.