Swiss National Bank grew its position in EchoStar Corporation (NASDAQ:SATS - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,025 shares of the communications equipment provider's stock after buying an additional 21,600 shares during the quarter. Swiss National Bank owned 0.09% of EchoStar worth $6,907,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of EchoStar by 50.3% in the 1st quarter. Amalgamated Bank now owns 53,287 shares of the communications equipment provider's stock valued at $1,363,000 after buying an additional 17,830 shares in the last quarter. Rhumbline Advisers lifted its position in shares of EchoStar by 4.7% during the 1st 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 period. Nebula Research & Development LLC lifted its position in shares of EchoStar by 88.7% during the 4th quarter. Nebula Research & Development LLC now owns 41,673 shares of the communications equipment provider's stock valued at $954,000 after acquiring an additional 19,590 shares during the period. Retirement Systems of Alabama acquired a new position in EchoStar during the first quarter worth $3,762,000. Finally, GAMMA Investing LLC grew its stake in shares of EchoStar by 3,470.8% in the 1st quarter. GAMMA Investing LLC now owns 88,021 shares of the communications equipment provider's stock worth $2,252,000 after acquiring an additional 85,556 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.
EchoStar Trading Down 0.9%
Shares of EchoStar stock traded down $0.2380 on Thursday, hitting $27.4120. The stock had a trading volume of 821,036 shares, compared to its average volume of 2,883,347. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -26.10 and a beta of 0.94. The stock's 50-day simple moving average is $27.89 and its two-hundred day simple moving average is $25.54. EchoStar Corporation has a one year low of $14.90 and a one year high of $34.20. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28.
EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.06. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.76) earnings per share. As a group, sell-side analysts predict that EchoStar Corporation will post -1.99 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, 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 report on Monday, June 23rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, EchoStar currently has a consensus rating of "Hold" and an average price target of $27.88.
Get Our Latest Report on SATS
EchoStar Company Profile
(
Free Report)
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.
Further Reading
Before you consider EchoStar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EchoStar wasn't on the list.
While EchoStar currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access