EchoStar (NASDAQ:SATS) Shares Gap Down to $13.04

EchoStar Co. (NASDAQ:SATSGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.04, but opened at $12.70. EchoStar shares last traded at $13.14, with a volume of 81,337 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on SATS shares. StockNews.com started coverage on shares of EchoStar in a report on Thursday, March 28th. They issued a “buy” rating on the stock. UBS Group increased their target price on shares of EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, TD Cowen decreased their target price on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

Read Our Latest Stock Analysis on EchoStar

EchoStar Trading Up 3.3 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.61 and a quick ratio of 0.53. The business’s 50-day simple moving average is $13.56 and its two-hundred day simple moving average is $13.73.

EchoStar (NASDAQ:SATSGet Free Report) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $1.19. The firm had revenue of $4.16 billion for the quarter. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The business’s quarterly revenue was up 732.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. Equities analysts anticipate that EchoStar Co. will post -1.11 EPS for the current fiscal year.

Insider Transactions at EchoStar

In other EchoStar news, Director James Defranco purchased 70,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $13.14 per share, for a total transaction of $919,800.00. Following the completion of the acquisition, the director now owns 176,951 shares in the company, valued at $2,325,136.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 55.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On EchoStar

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in EchoStar by 126.6% in the second quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 809 shares during the period. Russell Investments Group Ltd. bought a new stake in EchoStar in the first quarter valued at $34,000. Quarry LP bought a new stake in EchoStar in the fourth quarter valued at $41,000. Quest Partners LLC bought a new stake in EchoStar in the fourth quarter valued at $42,000. Finally, Federated Hermes Inc. increased its stake in EchoStar by 95.0% in the third quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 1,377 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

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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