EchoStar (NASDAQ:SATS) Upgraded at StockNews.com

StockNews.com upgraded shares of EchoStar (NASDAQ:SATS) to a sell rating in a report released on Tuesday morning.

Separately, Morgan Stanley dropped their price target on shares of EchoStar from $14.25 to $14.00 and set an equal weight rating on the stock in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EchoStar has an average rating of Hold and a consensus target price of $23.00.

EchoStar Trading Down 2.3 %

SATS opened at $19.50 on Tuesday. EchoStar has a 52-week low of $9.53 and a 52-week high of $24.80. The firm has a market capitalization of $5.29 billion, a P/E ratio of -2.55 and a beta of 0.71. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $18.67 and its 200-day moving average is $16.01.

EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23). EchoStar had a positive return on equity of 2.26% and a negative net margin of 23.47%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts expect that EchoStar will post -1.5 EPS for the current fiscal year.

Institutional Trading of EchoStar

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock worth $1,081,000 after acquiring an additional 1,100 shares during the period. Hexagon Capital Partners LLC lifted its stake in EchoStar by 694.8% in the second 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 during the period. Eagle Bay Advisors LLC boosted its stake in EchoStar by 183.6% during 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. Finally, Nisa Investment Advisors LLC grew its holdings in shares of EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 2,315 shares during the period. Institutional investors and hedge funds 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.