EchoStar (NASDAQ:SATS) Stock Price Down 9.1% - What's Next?

EchoStar Co. (NASDAQ:SATS - Get Free Report) traded down 9.1% during trading on Monday . The stock traded as low as $24.10 and last traded at $21.99. 839,708 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,727,714 shares. The stock had previously closed at $24.19.

EchoStar Trading Up 1.1%

The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The stock has a market cap of $6.60 billion, a P/E ratio of -2.51 and a beta of 0.83. The firm's 50-day simple moving average is $23.75 and its 200 day simple moving average is $25.02.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping 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 company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the business posted ($0.40) EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that EchoStar Co. will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 975 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of EchoStar by 251.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after purchasing an additional 1,151 shares during the last quarter. State of Wyoming acquired a new position in shares of EchoStar during the 4th quarter worth $47,000. Fifth Third Bancorp boosted its holdings in shares of EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after buying an additional 567 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock worth $88,000 after buying 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.