Telesat (NASDAQ:TSAT) Stock Price Up 5.9% – Should You Buy?

Telesat Corporation (NASDAQ:TSAT) shares shot up 5.9% during trading on Thursday . The company traded as high as $34.84 and last traded at $35.5750. 55,320 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 99,368 shares. The stock had previously closed at $33.58.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Telesat Stock Down 8.4%

The firm has a market cap of $455.07 million, a P/E ratio of -4.06 and a beta of 2.01. The firm’s 50-day moving average price is $29.03 and its 200 day moving average price is $24.89. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.11 and a quick ratio of 4.11.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.95). Telesat had a negative net margin of 34.55% and a negative return on equity of 5.05%. The firm had revenue of $72.56 million for the quarter, compared to analyst estimates of $100.26 million.

Institutional Trading of Telesat

Several institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. boosted its holdings in shares of Telesat by 307.3% in the 3rd quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock valued at $10,512,000 after buying an additional 309,153 shares during the period. Walleye Capital LLC acquired a new stake in shares of Telesat during the 2nd quarter worth approximately $1,814,000. Vestcor Inc lifted its holdings in shares of Telesat by 40.0% in the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after purchasing an additional 50,000 shares during the last quarter. Polar Asset Management Partners Inc. boosted its position in Telesat by 83.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock valued at $2,779,000 after purchasing an additional 47,725 shares during the period. Finally, Bank of America Corp DE increased its position in Telesat by 264.3% in the second quarter. Bank of America Corp DE now owns 56,401 shares of the company’s stock worth $1,378,000 after buying an additional 40,919 shares during the period.

Telesat Company Profile

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.