Echostar (NASDAQ:ECHO) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded EchoStar from “hold” to “strong buy,” joining a generally positive analyst consensus. The stock has an average “buy” rating and an average price target of $138.56.
• EchoStar shares opened at $86.39, near their 50-day moving average of $90.71 and well below the 52-week high of $147.25. The company’s latest quarterly earnings significantly exceeded expectations, though revenue declined 4% year over year and profitability remained negative.
• Insiders sold 13,508 shares worth approximately $1.2 million during the last quarter, while institutional ownership stands at 33.62%; several hedge funds have recently initiated or increased positions.

Echostar (NASDAQ:ECHO - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

ECHO has been the subject of several other reports. Raymond James Financial raised Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price target for the company in a research report on Friday, July 17th. TD Cowen lowered their price target on Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. initiated coverage on Echostar in a report on Friday, October 16th. They issued an "overweight" rating and a $144.00 price objective for the company. Citigroup cut their price objective on Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $134.00 target price on shares of Echostar in a research note on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Echostar currently has an average rating of "Buy" and an average price target of $138.56.

Echostar Trading Up 0.2%

Shares of ECHO stock opened at $86.39 on Monday. The company has a fifty day simple moving average of $90.71. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar has a 1 year low of $65.76 and a 1 year high of $147.25.

Echostar (NASDAQ:ECHO - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $24.14. The company had revenue of $3.58 billion during the quarter, compared to analysts' expectations of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. Echostar's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.06) EPS. On average, equities research analysts predict that Echostar will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Echostar

In other news, Director William Wade sold 2,575 shares of Echostar stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the transaction, the director directly owned 2,749 shares in the company, valued at approximately $254,694.85. The trade was a 48.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Bye sold 8,508 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director directly owned 653 shares in the company, valued at $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,508 shares of company stock valued at $1,224,686 over the last quarter. 54.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Echostar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECHO. Atreides Management LP increased its position in shares of Echostar by 11.0% in the first quarter. Atreides Management LP now owns 1,000,346 shares of the company's stock worth $117,111,000 after purchasing an additional 99,262 shares during the period. OP Asset Management Ltd bought a new stake in Echostar during the first quarter worth about $1,637,000. Resolute Advisors LLC bought a new stake in Echostar during the second quarter worth about $3,774,000. Hsbc Holdings PLC lifted its position in Echostar by 301.9% during the fourth quarter. Hsbc Holdings PLC now owns 79,182 shares of the company's stock worth $8,654,000 after purchasing an additional 59,482 shares during the period. Finally, BTG Pactual Asset Management US LLC bought a new stake in Echostar during the second quarter worth about $4,568,000. 33.62% of the stock is owned by institutional investors.

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar's portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.

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