Telesat (NASDAQ:TSAT) Stock Price Down 1.2% – Here’s What Happened

Telesat Corporation (NASDAQ:TSAT)’s stock price traded down 1.2% during trading on Tuesday . The stock traded as low as $27.73 and last traded at $28.40. 268,970 shares changed hands during trading, an increase of 33% from the average session volume of 201,489 shares. The stock had previously closed at $28.75.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Telesat Price Performance

The firm has a market capitalization of $403.00 million, a PE ratio of -3.60 and a beta of 2.02. The firm’s fifty day moving average price is $29.49 and its 200 day moving average price is $27.16. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 1.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSAT. BNP Paribas Financial Markets boosted its position in Telesat by 1,335.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after purchasing an additional 3,552 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Telesat by 63.3% in the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after purchasing an additional 2,473 shares during the period. Quarry LP purchased a new stake in Telesat during the third quarter worth $212,000. TD Waterhouse Canada Inc. acquired a new stake in Telesat during the second quarter valued at $248,000. Finally, JPMorgan Chase & Co. increased its holdings in Telesat by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock valued at $422,000 after buying an additional 10,428 shares in the last quarter.

Telesat Company Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.