EchoStar Co. (NASDAQ:SATS - Get Free Report) shares traded up 4.9% during mid-day trading on Thursday . The company traded as high as $14.09 and last traded at $14.09. 535,497 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 2,519,976 shares. The stock had previously closed at $13.43.
Analysts Set New Price Targets
A number of research firms have recently weighed in on SATS. StockNews.com assumed coverage on EchoStar in a report on Friday, April 5th. They set a "buy" rating for the company. TD Cowen cut their price target on EchoStar from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, March 4th. UBS Group lifted their target price on EchoStar from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, March 5th. Morgan Stanley lowered their target price on 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. began coverage on EchoStar in a research note on Wednesday, January 17th. They issued a "neutral" rating and a $18.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.00.
Read Our Latest Report on EchoStar
EchoStar Price Performance
The company has a 50 day simple moving average of $13.53 and a 200-day simple moving average of $13.57. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -2.08 and a beta of 0.69. 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 earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.02 by $1.19. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. The firm had revenue of $4.16 billion for the quarter. During the same quarter in the prior year, the business earned $0.59 earnings per share. The firm's revenue was up 732.2% compared to the same quarter last year. As a group, research analysts anticipate that EchoStar Co. will post -1.28 EPS for the current fiscal year.
Insider Activity
In related news, Director James Defranco purchased 70,000 shares of EchoStar stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $13.14 per share, with a total value of $919,800.00. Following the completion of the transaction, the director now directly owns 176,951 shares of the company's stock, valued at $2,325,136.14. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 55.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On EchoStar
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in EchoStar by 126.6% during the 2nd quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider's stock worth $25,000 after buying an additional 809 shares in the last quarter. Russell Investments Group Ltd. bought a new position in EchoStar in the first quarter valued at approximately $34,000. Quarry LP bought a new position in EchoStar in the fourth quarter valued at approximately $41,000. Quest Partners LLC acquired a new stake in shares of EchoStar in the fourth quarter valued at approximately $42,000. Finally, Federated Hermes Inc. lifted its position in shares of EchoStar by 95.0% in the third quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider's stock valued at $47,000 after buying an additional 1,377 shares during the last quarter. 33.62% of the stock is currently owned by 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.
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