EchoStar (NASDAQ:SATS) Hits New 52-Week High – What’s Next?

EchoStar Co. (NASDAQ:SATS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.15 and last traded at $30.12, with a volume of 601728 shares changing hands. The stock had previously closed at $29.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Morgan Stanley assumed coverage on EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. StockNews.com raised EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, TD Cowen cut their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, EchoStar presently has an average rating of “Hold” and a consensus price target of $23.75.

EchoStar Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The stock’s 50 day moving average price is $25.33 and its 200 day moving average price is $23.81. The company has a market capitalization of $8.19 billion, a P/E ratio of -3.29 and a beta of 0.72.

Institutional Trading of EchoStar

A number of large investors have recently bought and sold shares of SATS. Smartleaf Asset Management LLC lifted its stake in shares of EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 1,151 shares during the period. State of Wyoming acquired a new position in EchoStar in the fourth quarter valued at approximately $47,000. Quarry LP boosted its holdings in shares of EchoStar by 8,906.7% during the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider’s stock worth $93,000 after buying an additional 4,008 shares in the last quarter. Covestor Ltd grew its position in shares of EchoStar by 189.1% during the 4th quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,137 shares during the period. Finally, KBC Group NV increased its stake in shares of EchoStar by 65.1% in the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after acquiring an additional 2,635 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

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.