Militia Capital Management LLC Makes New Investment in Telesat Corporation $TSAT

Militia Capital Management LLC purchased a new stake in shares of Telesat Corporation (NASDAQ:TSAT) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,475 shares of the company’s stock, valued at approximately $560,000. Militia Capital Management LLC owned 0.10% of Telesat as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its stake in Telesat by 32.2% in the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock worth $85,000 after purchasing an additional 712 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Telesat by 1,335.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after purchasing an additional 3,552 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Telesat by 63.3% during the first 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 in the last quarter. Virtu Financial LLC purchased a new position in shares of Telesat during the fourth quarter valued at about $211,000. Finally, Quarry LP bought a new stake in shares of Telesat in the third quarter worth about $212,000.

Telesat Price Performance

NASDAQ:TSAT opened at $39.38 on Friday. The firm has a market capitalization of $584.40 million, a price-to-earnings ratio of -4.37 and a beta of 2.03. Telesat Corporation has a 1 year low of $19.59 and a 1 year high of $59.12. The business has a 50 day simple moving average of $46.29 and a 200-day simple moving average of $40.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.25 and a quick ratio of 0.25.

Telesat (NASDAQ:TSAT) last released its earnings results on Tuesday, May 5th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The company had revenue of $62.62 million for the quarter, compared to the consensus estimate of $62.03 million. Equities analysts forecast that Telesat Corporation will post -4.01 EPS for the current year.

Analyst Upgrades and Downgrades

TSAT has been the topic of several recent research reports. Zacks Research cut Telesat from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen lowered shares of Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Scotiabank began coverage on shares of Telesat in a research report on Monday, July 13th. They issued a “hold” rating on the stock. New Street Research began coverage on shares of Telesat in a research note on Wednesday, May 13th. They set a “sell” rating and a $30.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $33.50.

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.