Telesat (NASDAQ:TSAT) Stock Price Down 1.2% – Time to Sell?

Telesat Corporation (NASDAQ:TSAT)’s stock price fell 1.2% during trading on Tuesday . The company traded as low as $27.73 and last traded at $28.40. 268,970 shares changed hands during trading, an increase of 33% from the average session volume of 201,489 shares. The stock had previously closed at $28.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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 MarketBeat.com, Telesat currently has a consensus rating of “Sell”.

Telesat Stock Performance

The stock has a market cap of $403.00 million, a price-to-earnings ratio of -3.60 and a beta of 2.02. The firm’s 50-day moving average is $29.49 and its two-hundred day moving average is $27.16. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 1.80.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.95). The firm had revenue of $72.56 million for the quarter, compared to analysts’ expectations of $100.26 million. Telesat had a negative return on equity of 5.05% and a negative net margin of 34.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its holdings in shares of Telesat by 30.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 20,882 shares of the company’s stock worth $586,000 after buying an additional 4,901 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Telesat by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock valued at $422,000 after acquiring an additional 10,428 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in Telesat by 83.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock valued at $2,779,000 after acquiring an additional 47,725 shares in the last quarter. Quarry LP acquired a new stake in Telesat in the 3rd quarter valued at about $212,000. Finally, PenderFund Capital Management Ltd. lifted its stake in Telesat by 307.3% in the 3rd quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock worth $10,512,000 after purchasing an additional 309,153 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.