Telesat (NASDAQ:TSAT) Hits New 52-Week High – Time to Buy?

Shares of Telesat Corporation (NASDAQ:TSAT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.80 and last traded at $40.6730, with a volume of 116033 shares. The stock had previously closed at $35.50.

Wall Street Analysts Forecast Growth

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

Telesat Trading Up 16.4%

The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $30.79 and a 200-day moving average price of $28.78. The company has a market capitalization of $586.60 million, a price-to-earnings ratio of -5.25 and a beta of 1.95.

Institutional Trading of Telesat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc boosted its stake in Telesat by 128.3% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 58,000 shares of the company’s stock valued at $1,609,000 after buying an additional 32,600 shares in the last quarter. Vestcor Inc lifted its holdings in Telesat by 40.0% during the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock valued at $4,638,000 after purchasing an additional 50,000 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Telesat during the second quarter worth approximately $1,814,000. TD Waterhouse Canada Inc. bought a new position in shares of Telesat in the second quarter valued at approximately $248,000. Finally, Penserra Capital Management LLC increased its holdings in Telesat by 4.5% during the 3rd quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock valued at $794,000 after purchasing an additional 1,280 shares in the last quarter.

About Telesat

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.