EchoStar (NASDAQ:SATS) Shares Gap Up Following Analyst Upgrade

EchoStar Co. (NASDAQ:SATS)’s share price gapped up prior to trading on Monday after Morgan Stanley raised their price target on the stock from $14.00 to $20.00. The stock had previously closed at $24.27, but opened at $25.26. Morgan Stanley currently has an equal weight rating on the stock. EchoStar shares last traded at $26.73, with a volume of 302,897 shares changing hands.

Other equities analysts have also recently issued reports about the company. StockNews.com raised EchoStar to a “sell” rating in a research note on Tuesday, July 30th. UBS Group increased their price objective on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. Finally, TD Cowen cut their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.00.

Institutional Investors Weigh In On EchoStar

Several hedge funds have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new stake in EchoStar in the second quarter worth $89,000. Creative Planning lifted its stake in shares of EchoStar by 44.7% in the second quarter. Creative Planning now owns 24,904 shares of the communications equipment provider’s stock worth $444,000 after buying an additional 7,693 shares in the last quarter. Algert Global LLC increased its position in shares of EchoStar by 430.1% during the second quarter. Algert Global LLC now owns 86,147 shares of the communications equipment provider’s stock valued at $1,534,000 after acquiring an additional 69,897 shares in the last quarter. Scientech Research LLC bought a new position in EchoStar in the 2nd quarter valued at approximately $265,000. Finally, The Manufacturers Life Insurance Company boosted its stake in EchoStar by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock valued at $1,240,000 after purchasing an additional 2,176 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Trading Up 9.5 %

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The firm has a market cap of $7.21 billion, a P/E ratio of -3.47 and a beta of 0.70. The stock has a fifty day simple moving average of $19.37 and a 200 day simple moving average of $17.20.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts expect that EchoStar Co. will post -1.64 earnings per share for the current fiscal year.

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.