EchoStar (NASDAQ:SATS) Trading 4.7% Higher

EchoStar Co. (NASDAQ:SATS)’s share price rose 4.7% during mid-day trading on Thursday . The stock traded as high as $19.41 and last traded at $19.28. Approximately 285,347 shares were traded during trading, a decline of 84% from the average daily volume of 1,749,996 shares. The stock had previously closed at $18.41.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SATS shares. UBS Group boosted their target price on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. StockNews.com raised EchoStar to a “sell” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. Finally, TD Cowen cut their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.00.

EchoStar Stock Up 0.5 %

The firm has a market cap of $6.08 billion, a PE ratio of -2.91 and a beta of 0.70. The business’s 50 day moving average price is $18.96 and its 200 day moving average price is $16.83. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the business earned $0.39 EPS. The business’s revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts expect that EchoStar Co. will post -1.64 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 802 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in shares of EchoStar by 183.6% in the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 1,469 shares during the last quarter. Quarry LP purchased a new position in shares of EchoStar during the 4th quarter worth $41,000. Finally, Quest Partners LLC acquired a new position in shares of EchoStar during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Company Profile

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.