EchoStar (NASDAQ:SATS) CEO Sells $7,634,457.60 in Stock

EchoStar Corporation (NASDAQ:SATS) CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hamid Akhavan also recently made the following trade(s):

• On Thursday, December 11th, Hamid Akhavan sold 285,832 shares of EchoStar stock. The stock was sold at an average price of $105.33, for a total value of $30,106,684.56.

EchoStar Price Performance

Shares of SATS stock opened at $107.71 on Friday. The business has a fifty day simple moving average of $115.60 and a 200 day simple moving average of $91.19. The company has a market cap of $31.01 billion, a P/E ratio of -2.14 and a beta of 1.01. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $132.25.

Analysts Set New Price Targets

SATS has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $110.00 in a research report on Wednesday, December 10th. Citigroup raised their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. UBS Group upped their price target on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.17.

More EchoStar News

Here are the key news stories impacting EchoStar this week:

• Positive Sentiment: S&P 500 inclusion set for March 23 — inclusion should create one-time buying from index funds and improve liquidity, a near-term technical boost for demand. Dear EchoStar Stock Fans, Mark Your Calendars for March 23
• Positive Sentiment: High-profile endorsement of spectrum value — Jim Cramer and other commentators argue EchoStar’s spectrum assets are underappreciated, supporting a bullish fundamental narrative if monetization/launches proceed. Jim Cramer: Market Underappreciated EchoStar’s Spectrum
• Neutral Sentiment: Boost/DISH consumer activity: Boost Mobile will offer the new iPhone 17e — product distribution moves can modestly support consumer demand for EchoStar/DISH services but are not a major revenue shock. Boost Mobile to Offer the New iPhone 17e
• Neutral Sentiment: Sling TV marketing push (temporary $1 pass) — promotional activity may help short-term subscriber engagement around March events but is a modest near-term signal. Sling TV Trae Young $1 Day Pass Offer
• Negative Sentiment: Zacks downgraded EchoStar from “strong-buy” to “hold” — analyst downgrades can trigger selling and reduce near-term buy-side conviction. Zacks Downgrade / TickerReport
• Negative Sentiment: Insider selling: CEO Hamid Akhavan sold 71,005 shares (~$7.63M) on March 6 (reducing his position ~7.9%); filings and media reports also show additional insider sales — this large insider selling is a notable negative for sentiment. CEO Insider Sale / InsiderTrades
• Negative Sentiment: Gray Media blackout removed 226 local channels across 113 markets — the DISH/EchoStar ecosystem faces operational/headline risk from the carriage dispute, which can pressure subscriber sentiment and short-term video segment revenue. Gray Media Blackout / Yahoo Finance

Institutional Trading of EchoStar

A number of institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of EchoStar in the 4th quarter worth about $26,000. CoreCap Advisors LLC bought a new stake in shares of EchoStar during the 4th quarter valued at about $28,000. Rosenberg Matthew Hamilton acquired a new stake in EchoStar during the fourth quarter worth approximately $29,000. Deseret Mutual Benefit Administrators acquired a new stake in EchoStar during the third quarter worth approximately $28,000. Finally, Tucker Asset Management LLC bought a new stake in EchoStar in the fourth quarter worth approximately $42,000. Institutional investors own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.