Shares of Echostar CORP (NASDAQ:ECHO - Get Free Report) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $92.00 and traded as high as $95.45. Echostar shares last traded at $94.62, with a volume of 4,398,858 shares.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ECHO. Raymond James Financial upgraded shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price objective for the company in a report on Friday, July 17th. Citigroup reduced their target price on Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. UBS Group increased their target price on Echostar from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley lowered their target price on Echostar from $134.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $139.44.
Read Our Latest Report on ECHO
Echostar Trading Up 5.2%
The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $92.00. The company has a market cap of $27.49 billion, a price-to-earnings ratio of -3.80 and a beta of 1.06.
Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $4.90. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, equities research analysts predict that Echostar CORP will post -0.27 earnings per share for the current fiscal year.
Insider Activity at Echostar
In other Echostar news, Director William Wade sold 2,425 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. This represents a 88.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 54.60% of the company's stock.
Institutional Investors Weigh In On Echostar
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new position in Echostar in the 2nd quarter valued at $159,344,000. Tema ETFs LLC raised its holdings in shares of Echostar by 83,917.0% during the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company's stock worth $156,228,000 after acquiring an additional 1,537,359 shares during the period. Van ECK Associates Corp acquired a new position in Echostar during the 2nd quarter worth approximately $139,004,000. Bank of America Corp DE increased its stake in Echostar by 42.4% during the first quarter. Bank of America Corp DE now owns 1,069,301 shares of the company's stock valued at $125,183,000 after purchasing an additional 318,248 shares during the last quarter. Finally, Atreides Management LP raised its stake in shares of Echostar by 11.0% in the 1st quarter. Atreides Management LP now owns 1,000,346 shares of the company's stock valued at $117,111,000 after acquiring an additional 99,262 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.
About Echostar
(
Get Free Report)
EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.
EchoStar's portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.
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