EchoStar Co. (NASDAQ:SATS - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.35, but opened at $15.28. EchoStar shares last traded at $15.27, with a volume of 1,045,246 shares.
Analysts Set New Price Targets
Several research firms have commented on SATS. StockNews.com assumed coverage on shares of EchoStar in a report on Saturday, April 13th. They issued a "sell" rating on the stock. UBS Group lifted their price target on EchoStar from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, March 5th. TD Cowen decreased their price target on EchoStar from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, March 4th. Morgan Stanley dropped their price objective on shares of EchoStar from $14.25 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. started coverage on shares of EchoStar in a research note on Wednesday, January 17th. They issued a "neutral" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EchoStar has an average rating of "Hold" and a consensus price target of $23.00.
Read Our Latest Stock Report on SATS
EchoStar Trading Down 11.0 %
The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -2.22 and a beta of 0.62. The company's 50-day moving average price is $14.46 and its 200-day moving average price is $13.62. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of 0.99.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $1.19. The company had revenue of $4.16 billion for the quarter. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. The company's quarterly revenue was up 732.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities analysts expect that EchoStar Co. will post -1.28 EPS for the current fiscal year.
Insider Activity at EchoStar
In other EchoStar news, Director James Defranco bought 110,000 shares of the stock in a transaction on Friday, March 8th. The shares were bought at an average price of $13.48 per share, with a total value of $1,482,800.00. Following the purchase, the director now directly owns 306,951 shares in the company, valued at approximately $4,137,699.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 55.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC purchased a new position in shares of EchoStar during the 1st quarter worth $349,000. Inspire Investing LLC boosted its holdings in EchoStar by 10.6% in the 1st quarter. Inspire Investing LLC now owns 25,295 shares of the communications equipment provider's stock valued at $360,000 after purchasing an additional 2,431 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of EchoStar during the 1st quarter worth approximately $795,000. Swiss National Bank raised its position in shares of EchoStar by 247.2% during the 1st quarter. Swiss National Bank now owns 235,025 shares of the communications equipment provider's stock valued at $3,349,000 after buying an additional 167,325 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in EchoStar in the first quarter valued at approximately $940,000. 33.62% of the stock is owned by hedge funds and other institutional investors.
About EchoStar
(
Get 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.
See Also
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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
