EchoStar (NASDAQ:SATS) Shares Down 4.7% - Here's Why

EchoStar Corporation (NASDAQ:SATS - Get Free Report) traded down 4.7% on Monday . The stock traded as low as $27.42 and last traded at $27.45. 1,413,447 shares traded hands during trading, a decline of 37% from the average session volume of 2,247,295 shares. The stock had previously closed at $28.81.

Analyst Ratings Changes

Separately, Citigroup lifted their price objective on EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, EchoStar has a consensus rating of "Hold" and an average target price of $24.70.

EchoStar Stock Down 3.4%

The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The stock has a market cap of $8.00 billion, a PE ratio of -37.11 and a beta of 0.75. The firm has a fifty day moving average of $21.66 and a 200 day moving average of $24.32.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.19. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.87 billion. EchoStar had a negative return on equity of 1.08% and a negative net margin of 1.37%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.40) EPS. On average, equities research analysts anticipate that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Institutional Trading of EchoStar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its holdings in shares of EchoStar by 374.7% in the 1st quarter. Inspire Investing LLC now owns 83,540 shares of the communications equipment provider's stock valued at $2,137,000 after buying an additional 65,941 shares in the last quarter. Rhumbline Advisers lifted its position in EchoStar by 4.7% in the first quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider's stock valued at $10,027,000 after acquiring an additional 17,448 shares during the last quarter. Strs Ohio acquired a new position in EchoStar in the first quarter valued at $128,000. Intech Investment Management LLC grew its holdings in shares of EchoStar by 49.1% during the first quarter. Intech Investment Management LLC now owns 115,835 shares of the communications equipment provider's stock worth $2,963,000 after purchasing an additional 38,131 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of EchoStar by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider's stock worth $8,479,000 after purchasing an additional 24,749 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Company Profile

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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