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

EchoStar Co. (NASDAQ:SATS - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $17.48, but opened at $15.76. EchoStar shares last traded at $16.24, with a volume of 1,198,054 shares changing hands.

EchoStar Trading Down 4.5%

The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -1.82 and a beta of 0.74. The business's 50 day moving average price is $21.63 and its 200-day moving average price is $24.49. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share (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 analyst estimates of $3.87 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The company'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. Equities analysts expect that EchoStar Co. will post -1.99 EPS for the current year.

Institutional Investors Weigh In On EchoStar

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 975 shares during the period. Smartleaf Asset Management LLC raised its stake in EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after acquiring an additional 1,151 shares during the period. Fifth Third Bancorp raised its stake in EchoStar by 44.5% during the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after acquiring an additional 567 shares during the period. State of Wyoming acquired a new stake in EchoStar during the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC raised its stake in EchoStar by 39.6% during the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock worth $88,000 after acquiring an additional 976 shares during the period. 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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