William David Wade Sells 2,425 Shares of Echostar (NASDAQ:ECHO) Stock

Key Points

• Director William David Wade sold 2,425 EchoStar shares for $221,839 at an average price of $91.48, reducing his direct ownership by 88.21% to 324 shares. He also sold 2,575 shares the previous day.
• EchoStar shares recently traded at $91.89, while the company reported quarterly revenue of $3.67 billion and a loss of $0.51 per share. Analysts expect a full-year loss of $1.35 per share.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $132, although ratings range from “Strong Buy” to “Sell.” Institutional investors own 33.62% of the company.

Echostar CORP (NASDAQ:ECHO - Get Free Report) Director William David Wade sold 2,425 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the sale, the director directly owned 324 shares of the company's stock, valued at $29,639.52. This represents a 88.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

William David Wade also recently made the following trade(s):

• On Wednesday, August 12th, William David Wade sold 2,575 shares of Echostar stock. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75.

Echostar Price Performance

Shares of NASDAQ:ECHO traded up $0.21 on Friday, hitting $91.89. The company had a trading volume of 2,112,664 shares, compared to its average volume of 7,037,955. Echostar CORP has a 1-year low of $26.52 and a 1-year high of $147.25. The company has a market cap of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The company had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Equities analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. New Street Research set a $165.00 price target on shares of Echostar in a report on Monday, June 15th. Raymond James Financial upgraded 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. Weiss Ratings assumed coverage on Echostar in a research report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. Citigroup lowered their target price on Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.00.

Hedge Funds Weigh In On Echostar

Hedge funds have recently bought and sold shares of the business. Sachem Head Capital Management LP bought a new stake in Echostar in the 4th quarter valued at about $568,218,000. Norges Bank bought a new position in shares of Echostar during the fourth quarter worth approximately $182,111,000. Tema ETFs LLC raised its position in shares of Echostar by 83,917.0% in the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company's stock valued at $156,228,000 after buying an additional 1,537,359 shares in the last quarter. 140 Summer Partners LP bought a new stake in shares of Echostar in the fourth quarter valued at approximately $99,678,000. Finally, Atreides Management LP bought a new stake in shares of Echostar in the fourth quarter valued at approximately $97,948,000. 33.62% of the stock is owned by institutional investors.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.

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