EchoStar’s (SATS) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of EchoStar (NASDAQ:SATS) in a research report sent to investors on Monday morning, MarketBeat reports. The firm currently has a $12.00 target price on the communications equipment provider’s stock.

Separately, StockNews.com upgraded EchoStar to a sell rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $22.00.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $17.81 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99. EchoStar has a twelve month low of $9.53 and a twelve month high of $22.48. The firm has a market capitalization of $4.84 billion, a PE ratio of -2.31 and a beta of 0.71. The company has a 50-day moving average price of $18.54 and a two-hundred day moving average price of $16.17.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.19%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Equities analysts forecast that EchoStar will post -1.5 EPS for the current year.

Institutional Investors Weigh In On EchoStar

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 802 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC boosted its position 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 purchasing an additional 1,469 shares in the last quarter. Quarry LP acquired a new stake in shares of EchoStar in the 4th quarter worth $41,000. Finally, Quest Partners LLC purchased a new position in EchoStar in the 4th quarter worth $42,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

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.