EchoStar (NASDAQ:SATS) Shares Up 6.1% – Here’s Why

EchoStar Co. (NASDAQ:SATS) was up 6.1% on Tuesday . The company traded as high as $26.29 and last traded at $26.73. Approximately 144,628 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,548,263 shares. The stock had previously closed at $25.18.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SATS. TD Cowen reduced their price objective on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. UBS Group boosted their price target on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Morgan Stanley initiated coverage on shares of EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average price target of $23.75.

EchoStar Stock Down 1.5 %

The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average is $27.42 and its 200 day moving average is $25.07. The stock has a market cap of $7.48 billion, a P/E ratio of -2.85 and a beta of 0.65.

EchoStar (NASDAQ:SATS) last announced its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.63) by $1.87. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. As a group, equities research analysts forecast that EchoStar Co. will post -1.99 EPS for the current year.

Institutional Trading of EchoStar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in EchoStar during the third quarter worth about $285,000. Victory Capital Management Inc. raised its holdings in shares of EchoStar by 11.0% in the 3rd quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider’s stock worth $1,161,000 after buying an additional 4,626 shares in the last quarter. Empowered Funds LLC lifted its position in shares of EchoStar by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 324,416 shares of the communications equipment provider’s stock worth $8,052,000 after buying an additional 16,595 shares during the period. Natixis Advisors LLC boosted its stake in EchoStar by 9.8% in the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock valued at $541,000 after buying an additional 1,942 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in EchoStar in the third quarter valued at $651,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

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.