Weiss Ratings Reaffirms "Sell (D-)" Rating for EchoStar (NASDAQ:SATS)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for EchoStar (NASDAQ:SATS), highlighting ongoing concerns regarding the company's performance.
• Despite the negative assessment from Weiss Ratings, several analysts including Cowen and Citigroup have maintained a "Buy" or "Strong Buy" rating, indicating mixed sentiments among investors.
• EchoStar's stock has shown significant fluctuations, with a 12-month range between $14.90 and $85.37, reflecting volatility in its market performance.

EchoStar (NASDAQ:SATS - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other analysts have also recently commented on the stock. Cowen reiterated a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research report on Tuesday, September 9th. Morgan Stanley boosted their price target on shares of EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. Citigroup raised shares of EchoStar from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 9th. Finally, Zacks Research raised shares of EchoStar from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, EchoStar currently has a consensus rating of "Moderate Buy" and an average target price of $75.20.

EchoStar Trading Up 1.5%

SATS stock traded up $1.09 during trading on Friday, hitting $74.12. The company had a trading volume of 1,863,866 shares, compared to its average volume of 3,244,573. The firm has a 50-day moving average price of $66.89 and a 200-day moving average price of $39.13. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of -70.59 and a beta of 0.96. EchoStar has a 12 month low of $14.90 and a 12 month high of $85.37. 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 issued its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.06. The company 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 business'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 company posted ($0.76) EPS. As a group, analysts predict that EchoStar will post -1.99 earnings per share for the current year.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO Paul Gaske sold 45,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $80.25, for a total value of $3,611,250.00. Following the transaction, the chief operating officer directly owned 1,593 shares of the company's stock, valued at $127,838.25. This represents a 96.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Q. Abernathy sold 16,754 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $82.35, for a total transaction of $1,379,691.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 460,740 shares of company stock valued at $35,967,480. Corporate insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in EchoStar by 593.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider's stock valued at $70,000 after acquiring an additional 789 shares during the period. Lazard Asset Management LLC bought a new position in EchoStar in the 2nd quarter valued at about $73,000. GAMMA Investing LLC raised its holdings in EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 976 shares during the period. Brooklyn Investment Group increased its holdings in shares of EchoStar by 70,980.0% during the first quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider's stock worth $91,000 after purchasing an additional 3,549 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of EchoStar during the first quarter worth approximately $102,000. 33.62% of the stock is owned by institutional investors.

About EchoStar

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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