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

Militia Capital Management LLC acquired a new position in Telesat Corporation (NASDAQ:TSAT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,475 shares of the company’s stock, valued at approximately $560,000.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its position in Telesat by 72.5% during the 1st quarter. Bank of America Corp DE now owns 34,794 shares of the company’s stock worth $1,260,000 after purchasing an additional 14,626 shares during the period. Royal Bank of Canada raised its position in Telesat by 100.2% in the first quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock valued at $212,000 after purchasing an additional 2,928 shares during the period. Senvest Management LLC lifted its stake in shares of Telesat by 2.2% during the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock worth $4,984,000 after purchasing an additional 3,000 shares in the last quarter. Walleye Capital LLC boosted its position in shares of Telesat by 210.1% in the first quarter. Walleye Capital LLC now owns 57,017 shares of the company’s stock worth $2,064,000 after buying an additional 38,630 shares during the period. Finally, Van Berkom & Associates Inc. purchased a new stake in shares of Telesat in the first quarter worth about $991,000.

Analyst Ratings Changes

Several brokerages recently commented on TSAT. Wall Street Zen downgraded Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. New Street Research started coverage on Telesat in a report on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price target for the company. Zacks Research downgraded shares of Telesat from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Scotiabank began coverage on shares of Telesat in a research note on Monday, July 13th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Telesat in a research note on Thursday, July 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $33.50.

Telesat Price Performance

Shares of NASDAQ TSAT opened at $40.18 on Tuesday. Telesat Corporation has a fifty-two week low of $19.59 and a fifty-two week high of $59.12. The business has a 50 day moving average price of $44.22 and a two-hundred day moving average price of $40.67. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.77. The firm has a market cap of $596.27 million, a PE ratio of -4.45 and a beta of 2.07.

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

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.