EchoStar (NASDAQ:SATS) Sets New 1-Year High - Here's What Happened

Key Points

• EchoStar hit a new 52-week high, trading as high as $136 and last at $135.06 on Friday with about 85,995 shares changing hands; the stock carries a market cap near $38.65 billion and is trading around the average analyst target of $134.17.
• Analyst coverage is mixed — the consensus rating is Hold (3 Buy, 3 Hold, 1 Sell) with recent price-target upgrades from Deutsche Bank and UBS but an overall average target of $134.17.
• Significant insider selling occurred recently: CEO Hamid Akhavan sold 71,005 shares (~$7.63M) and COO John Swieringa sold 50,088 shares (~$5.69M), although insiders still control 55.90% of the company.

EchoStar Corporation (NASDAQ:SATS - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $136.00 and last traded at $135.0640, with a volume of 85995 shares traded. The stock had previously closed at $132.50.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of EchoStar in a research note on Wednesday, January 21st. Zacks Research cut shares of EchoStar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of EchoStar from $97.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, December 19th. UBS Group upped their target price on shares of EchoStar from $125.00 to $127.00 and gave the company a "neutral" rating in a report on Tuesday, March 3rd. Finally, TD Cowen reiterated a "buy" rating on shares of EchoStar in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $134.17.

EchoStar Stock Up 1.0%

The firm has a fifty day simple moving average of $115.40 and a 200-day simple moving average of $100.05. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. The firm has a market cap of $38.65 billion, a price-to-earnings ratio of -2.66 and a beta of 1.00.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction on Friday, March 6th. The stock was sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the completion of the sale, the chief executive officer owned 823,293 shares of the company's stock, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Swieringa sold 50,088 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the sale, the chief operating officer directly owned 253,535 shares of the company's stock, valued at approximately $28,796,505.30. The trade was a 16.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of EchoStar by 1,301.1% in the first quarter. SG Americas Securities LLC now owns 508,734 shares of the communications equipment provider's stock valued at $59,557,000 after buying an additional 472,424 shares during the period. Diversified Trust Co grew its position in EchoStar by 0.4% in the first quarter. Diversified Trust Co now owns 22,845 shares of the communications equipment provider's stock valued at $2,674,000 after acquiring an additional 84 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of EchoStar by 301.9% during the 4th quarter. Hsbc Holdings PLC now owns 79,182 shares of the communications equipment provider's stock valued at $8,654,000 after purchasing an additional 59,482 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in EchoStar by 247.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,552 shares of the communications equipment provider's stock worth $1,364,000 after purchasing an additional 8,941 shares in the last quarter. Finally, Spear Advisors LLC bought a new position in EchoStar in the 4th quarter valued at approximately $6,272,000. Institutional investors and hedge funds own 33.62% of the company's stock.

About EchoStar

EchoStar Corporation NASDAQ: SATS is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar's Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.

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