EchoStar (NASDAQ:SATS) Shares Gap Up - Time to Buy?

Key Points

• EchoStar's stock price increased significantly, opening at $54.31 after closing at $50.87, and last traded at $57.49 with a volume of over 5.7 million shares.
• Wall Street analysts have a mixed outlook, with Cowen and Deutsche Bank recommending a "buy" rating, while Citigroup upgraded its price target but maintained a "neutral" rating.
• EchoStar reported a quarterly revenue of $3.72 billion, slightly below expectations, with a negative net margin and projected earnings per share of -1.99 for the current year.

EchoStar Corporation (NASDAQ:SATS - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $50.87, but opened at $54.31. EchoStar shares last traded at $57.49, with a volume of 5,721,939 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SATS shares. Cowen reiterated a "buy" rating on shares of EchoStar in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $67.00 price objective on shares of EchoStar and gave the stock a "buy" rating in a report on Wednesday. Finally, Citigroup increased their price target on shares of EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, EchoStar presently has a consensus rating of "Hold" and an average target price of $35.70.

EchoStar Trading Up 13.5%

The business's 50-day moving average price is $28.96 and its 200 day moving average price is $25.69. The company has a market cap of $16.61 billion, a P/E ratio of -54.98 and a beta of 0.94. 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 announced its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating analysts' consensus estimates of ($1.12) by $0.06. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. As a group, analysts expect that EchoStar Corporation will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

A number of institutional investors have recently modified their holdings of SATS. Farther Finance Advisors LLC boosted 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 in the last quarter. State of Wyoming bought a new position in shares of EchoStar in the fourth quarter valued at $47,000. Fifth Third Bancorp lifted its stake 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 buying an additional 567 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of EchoStar in the second quarter valued at $73,000. Finally, GAMMA Investing LLC lifted its stake in shares of EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after buying an additional 976 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

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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