Telesat (NASDAQ:TSAT) Sets New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Telesat Stock Down 4.7%

The stock has a market capitalization of $472.81 million, a price-to-earnings ratio of -4.22 and a beta of 1.95. The firm’s fifty day moving average is $30.59 and its 200-day moving average is $28.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 4.11 and a quick ratio of 4.11.

Institutional Investors Weigh In On Telesat

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Telesat by 32.2% in the fourth 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 increased its holdings in Telesat by 1,335.3% in the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after buying an additional 3,552 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after buying an additional 2,473 shares during the last quarter. Virtu Financial LLC acquired a new stake in Telesat during the fourth quarter valued at approximately $211,000. Finally, Quarry LP acquired a new stake in Telesat during the third quarter valued at approximately $212,000.

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.