Telesat (NASDAQ:TSAT) Sets New 1-Year High – Should You Buy?

Telesat Corporation (NASDAQ:TSAT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.93 and last traded at $36.8410, with a volume of 23384 shares. The stock had previously closed at $34.80.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Telesat Stock Performance

The business has a 50 day moving average price of $30.39 and a 200 day moving average price of $28.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market capitalization of $509.59 million, a PE ratio of -4.55 and a beta of 1.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSAT. Royal Bank of Canada raised its position in shares of Telesat by 32.2% during the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock valued at $85,000 after purchasing an additional 712 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Telesat by 1,335.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after acquiring an additional 3,552 shares during the last quarter. Acadian Asset Management LLC increased its stake in Telesat by 63.3% during the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after acquiring an additional 2,473 shares during the last quarter. Virtu Financial LLC purchased a new stake in Telesat during the fourth quarter valued at approximately $211,000. Finally, Quarry LP bought a new position in shares of Telesat during the 3rd quarter valued at approximately $212,000.

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.