EchoStar Co. (NASDAQ:SATS) Shares Bought by Entropy Technologies LP

Entropy Technologies LP boosted its position in shares of EchoStar Co. (NASDAQ:SATS) by 45.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 50,621 shares of the communications equipment provider’s stock after acquiring an additional 15,814 shares during the period. Entropy Technologies LP’s holdings in EchoStar were worth $721,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new stake in EchoStar during the first quarter valued at $172,000. ProShare Advisors LLC acquired a new stake in EchoStar during the first quarter valued at $349,000. Inspire Investing LLC grew its position in EchoStar by 10.6% during the first quarter. Inspire Investing LLC now owns 25,295 shares of the communications equipment provider’s stock valued at $360,000 after buying an additional 2,431 shares during the period. Sei Investments Co. acquired a new stake in shares of EchoStar in the first quarter valued at about $795,000. Finally, Swiss National Bank grew its position in shares of EchoStar by 247.2% in the first quarter. Swiss National Bank now owns 235,025 shares of the communications equipment provider’s stock valued at $3,349,000 after purchasing an additional 167,325 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SATS. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley dropped their target price 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 analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.00.

EchoStar Price Performance

SATS traded up $0.41 on Thursday, reaching $20.74. 55,040 shares of the company’s stock were exchanged, compared to its average volume of 1,905,220. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $24.80. The stock’s fifty day moving average price is $18.10 and its 200-day moving average price is $15.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.35 and a current ratio of 0.44.

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

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.