Long Focus Capital Management LLC Has $7.93 Million Stock Holdings in EchoStar Corporation $SATS

Key Points

• Long Focus Capital Management LLC significantly reduced its stake in EchoStar Corporation by 50.7%, selling 318,544 shares, and now holds 310,000 shares valued at approximately $7.93 million.
• Several analysts have updated their ratings on EchoStar, with Deutsche Bank and TD Cowen setting price targets at $67.00, while the stock currently holds a consensus rating of Hold.
• Following its latest earnings report, EchoStar posted a revenue of $3.72 billion for the quarter, which was below analysts' estimates, and reported a loss of ($1.06) per share.

Long Focus Capital Management LLC lessened its stake in EchoStar Corporation (NASDAQ:SATS - Free Report) by 50.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,000 shares of the communications equipment provider's stock after selling 318,544 shares during the quarter. Long Focus Capital Management LLC owned 0.11% of EchoStar worth $7,930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in EchoStar by 97.8% during the fourth quarter. Hsbc Holdings PLC now owns 30,350 shares of the communications equipment provider's stock worth $697,000 after purchasing an additional 15,004 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in EchoStar by 7.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 105,800 shares of the communications equipment provider's stock worth $2,423,000 after purchasing an additional 7,030 shares during the last quarter. Northern Trust Corp boosted its holdings in EchoStar by 6.1% during the fourth quarter. Northern Trust Corp now owns 1,356,396 shares of the communications equipment provider's stock worth $31,061,000 after purchasing an additional 78,421 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in EchoStar during the fourth quarter worth $244,000. Finally, Balyasny Asset Management L.P. boosted its holdings in EchoStar by 223.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 498,154 shares of the communications equipment provider's stock worth $11,408,000 after purchasing an additional 343,913 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Stock Performance

SATS stock traded up $4.84 during trading hours on Monday, reaching $61.79. The stock had a trading volume of 12,437,823 shares, compared to its average volume of 5,989,474. The stock has a market capitalization of $17.78 billion, a PE ratio of -58.85 and a beta of 0.98. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a 50-day simple moving average of $31.75 and a 200 day simple moving average of $26.53. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $61.87.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $3.72 billion during 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 company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) earnings per share. Analysts predict that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SATS has been the subject of several recent research reports. Citigroup restated a "neutral" rating on shares of EchoStar in a report on Friday. Morgan Stanley increased their target price on shares of EchoStar from $25.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Cowen restated a "buy" rating on shares of EchoStar in a report on Wednesday, August 27th. TD Cowen increased their target price on shares of EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of EchoStar from $43.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $49.90.

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.