EchoStar (NASDAQ:SATS) Shares Up 8.8% - Here's What Happened

EchoStar Co. (NASDAQ:SATS - Get Free Report) shares traded up 8.8% on Thursday . The company traded as high as $17.39 and last traded at $17.62. 1,930,168 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 1,966,569 shares. The stock had previously closed at $16.20.

EchoStar Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The stock's 50 day simple moving average is $21.63 and its two-hundred day simple moving average is $24.48. The stock has a market cap of $5.02 billion, a P/E ratio of -1.91 and a beta of 0.74.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.19. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. The business's revenue was down 3.6% on a year-over-year basis. As a group, research analysts forecast that EchoStar Co. will post -1.99 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in shares of EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 975 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after purchasing an additional 1,151 shares during the last quarter. State of Wyoming acquired a new stake in shares of EchoStar in the fourth quarter valued at approximately $47,000. Fifth Third Bancorp raised its holdings 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 purchasing an additional 567 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 purchasing an additional 976 shares during the last quarter. Institutional investors 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.