EchoStar (NASDAQ:SATS) Price Target Cut to $30.00 by Analysts at TD Cowen

EchoStar (NASDAQ:SATS) had its target price lowered by TD Cowen from $37.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com raised EchoStar to a “sell” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. UBS Group increased their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley increased their price objective on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.25.

EchoStar Trading Up 3.6 %

Shares of SATS opened at $22.79 on Wednesday. EchoStar has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The firm has a 50-day simple moving average of $24.79 and a 200-day simple moving average of $20.62. The company has a current ratio of 0.67, a quick ratio of 0.32 and a debt-to-equity ratio of 1.11.

Insider Buying and Selling

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of EchoStar stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the acquisition, the chairman now owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 55.90% of the company’s stock.

Institutional Trading of EchoStar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in EchoStar by 238.7% during the first quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after buying an additional 9,661,167 shares during the period. Darsana Capital Partners LP acquired a new position in EchoStar during the second quarter worth approximately $36,908,000. Monarch Alternative Capital LP purchased a new position in EchoStar during the first quarter worth approximately $21,375,000. American Century Companies Inc. boosted its holdings in shares of EchoStar by 51.5% in the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock valued at $39,961,000 after purchasing an additional 762,462 shares during the last quarter. Finally, Apollo Management Holdings L.P. purchased a new stake in shares of EchoStar during the 1st quarter valued at $10,507,000. 33.62% of the stock is owned by hedge funds and other 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.