Telesat (NASDAQ:TSAT) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Telesat (NASDAQ:TSAT) had its price objective hoisted by research analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 5.29% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $37.00.

Telesat Price Performance

NASDAQ TSAT traded down $1.34 during trading hours on Thursday, hitting $39.07. 244,083 shares of the company’s stock traded hands, compared to its average volume of 178,080. The company has a market capitalization of $554.33 million, a PE ratio of -5.17 and a beta of 1.95. 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 has a 52-week low of $14.77 and a 52-week high of $43.82. The firm’s 50-day moving average is $31.21 and its 200-day moving average is $29.01.

Institutional Investors Weigh In On Telesat

A number of institutional investors have recently modified their holdings of the company. PenderFund Capital Management Ltd. increased its stake in shares of Telesat by 307.3% during the third quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock worth $10,512,000 after buying an additional 309,153 shares during the period. Senvest Management LLC increased its position in shares of Telesat by 261.5% in the 4th quarter. Senvest Management LLC now owns 134,668 shares of the company’s stock valued at $3,919,000 after purchasing an additional 97,411 shares during the last quarter. Millennium Management LLC lifted its position in shares of Telesat by 245.4% during the 4th quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock worth $3,739,000 after purchasing an additional 91,272 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Telesat during the second quarter worth $1,814,000. Finally, Vestcor Inc increased its holdings in Telesat by 40.0% in the third quarter. Vestcor Inc now owns 175,000 shares of the company’s stock valued at $4,638,000 after buying an additional 50,000 shares during 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.