EchoStar (NASDAQ:SATS) Shares Down 4.1% - What's Next?

Key Points

• EchoStar's stock experienced a decline of 4.1%, with trading volumes significantly lower than average, indicating possible market volatility.
• Analysts have set new price targets for EchoStar, with Deutsche Bank raising their target to $67.00 and maintaining a "buy" rating, reflecting positive sentiment.
• In the latest earnings report, EchoStar reported a loss of ($1.06) per share, which exceeded analyst estimates, but revenues fell short of expectations, indicating a challenging financial environment.

EchoStar Corporation (NASDAQ:SATS - Get Free Report) traded down 4.1% during trading on Wednesday . The stock traded as low as $62.50 and last traded at $62.55. 885,801 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,344,833 shares. The stock had previously closed at $65.24.

Analysts Set New Price Targets

SATS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on EchoStar from $43.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Morgan Stanley boosted their target price on shares of EchoStar from $25.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Citigroup restated a "neutral" rating on shares of EchoStar in a research report on Friday, August 29th. TD Cowen increased their price objective on EchoStar from $28.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Finally, Cowen reaffirmed a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $49.90.

EchoStar Price Performance

The company has a market capitalization of $18.07 billion, a PE ratio of -59.76 and a beta of 0.99. The stock has a 50 day moving average price of $32.55 and a two-hundred day moving average price of $26.80. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating analysts' consensus estimates of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the firm earned ($0.76) EPS. EchoStar's revenue for the quarter was down 5.8% on a year-over-year basis. Equities analysts forecast that EchoStar Corporation will post -1.99 earnings per share for the current year.

Institutional Trading of EchoStar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in shares of EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after acquiring an additional 567 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of EchoStar by 16.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider's stock valued at $145,000 after buying an additional 746 shares during the period. State of Alaska Department of Revenue grew its position in EchoStar by 6.4% during the second quarter. State of Alaska Department of Revenue now owns 15,055 shares of the communications equipment provider's stock worth $417,000 after buying an additional 910 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of EchoStar by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 128,881 shares of the communications equipment provider's stock worth $3,570,000 after acquiring an additional 944 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 975 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.

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