Telesat Corp (NASDAQ:TSAT – Get Rating) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 138,400 shares, a drop of 26.8% from the December 31st total of 189,000 shares. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is currently 3.9 days. Approximately 1.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Telesat

Hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased its stake in shares of Telesat by 21.8% during the first quarter. Gamco Investors INC. ET AL now owns 1,509,120 shares of the company's stock worth $24,900,000 after purchasing an additional 270,583 shares during the period. Gabelli Funds LLC increased its holdings in Telesat by 22.6% in the 3rd quarter. Gabelli Funds LLC now owns 1,009,392 shares of the company's stock worth $7,883,000 after purchasing an additional 185,905 shares in the last quarter. Citadel Advisors LLC boosted its position in Telesat by 677.9% during the 2nd quarter. Citadel Advisors LLC now owns 175,819 shares of the company's stock worth $1,964,000 after buying an additional 153,217 shares during the period. Millennium Management LLC grew its position in shares of Telesat by 284.6% in the 2nd quarter. Millennium Management LLC now owns 134,376 shares of the company's stock valued at $1,501,000 after buying an additional 99,434 shares during the last quarter. Finally, ARS Investment Partners LLC lifted its holdings in Telesat by 47.3% in the third quarter. ARS Investment Partners LLC now owns 127,999 shares of the company's stock valued at $1,000,000 after buying an additional 41,123 shares during the period.

Telesat Stock Up 6.6 %

Shares of Telesat stock opened at $9.47 on Friday. The firm's 50-day moving average price is $8.25 and its two-hundred day moving average price is $9.30. The company has a quick ratio of 8.99, a current ratio of 8.99 and a debt-to-equity ratio of 2.26. Telesat has a 1-year low of $6.00 and a 1-year high of $24.50.

About Telesat

(Get Rating)

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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