EchoStar (NASDAQ:SATS) Stock Price Up 5.5% – Time to Buy?

by · The Cerbat Gem

EchoStar Corporation (NASDAQ:SATS – Get Free Report)’s share price was up 5.5% on Wednesday . The company traded as high as $100.50 and last traded at $98.72. Approximately 3,971,825 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 3,749,151 shares. The stock had previously closed at $93.54.

Analyst Upgrades and Downgrades

SATS has been the subject of several recent analyst reports. Morgan Stanley raised shares of EchoStar from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $110.00 in a report on Wednesday. Zacks Research downgraded EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. TD Cowen increased their target price on EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a research report on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, EchoStar has an average rating of “Hold” and a consensus price target of $79.40.

Check Out Our Latest Report on EchoStar

EchoStar Stock Up 7.2%

The firm has a 50 day moving average of $73.94 and a 200-day moving average of $50.97. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.61 and a quick ratio of 0.56. The stock has a market capitalization of $28.85 billion, a P/E ratio of -2.24 and a beta of 1.03.

EchoStar (NASDAQ:SATS – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($43.14). The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.75 billion. EchoStar had a positive return on equity of 0.39% and a negative net margin of 85.36%.EchoStar’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.52) EPS. On average, equities research analysts expect that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at EchoStar

In other news, COO Paul Gaske sold 750 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $78.32, for a total value of $58,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hamid Akhavan sold 233,918 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the transaction, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at $28,392,256.75. The trade was a 38.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 266,151 shares of company stock valued at $19,885,417 in the last 90 days. 55.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EchoStar

A number of hedge funds have recently modified their holdings of the stock. Deseret Mutual Benefit Administrators bought a new position in shares of EchoStar during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in EchoStar during the 3rd quarter valued at about $38,000. Bessemer Group Inc. boosted its position in EchoStar by 79.1% in the third quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock valued at $64,000 after buying an additional 370 shares in the last quarter. Farther Finance Advisors LLC grew its stake in EchoStar by 593.2% during the third quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 789 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of EchoStar in the 2nd quarter worth approximately $73,000. 33.62% of the stock is owned by institutional investors and hedge funds.

About EchoStar

(Get Free Report)

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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