EchoStar Co. (NASDAQ:SATS) Receives Average Rating of “Hold” from Brokerages

EchoStar Co. (NASDAQ:SATS) has earned a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.75.

A number of analysts have weighed in on SATS shares. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. TD Cowen decreased their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley initiated coverage on EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price target 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 report on Monday, January 13th. Finally, StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Saturday, November 9th.

EchoStar Stock Down 0.8 %

EchoStar stock opened at $27.52 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. EchoStar has a 1-year low of $11.83 and a 1-year high of $30.08. The firm’s fifty day simple moving average is $23.82 and its 200-day simple moving average is $22.68. The company has a market capitalization of $7.48 billion, a P/E ratio of -3.00 and a beta of 0.70.

Insider Buying and Selling at EchoStar

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On EchoStar

Hedge funds have recently made changes to their positions in the business. Darsana Capital Partners LP acquired a new position in EchoStar in the second quarter worth about $36,908,000. Citigroup Inc. boosted its stake in EchoStar by 32.7% in the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after buying an additional 40,533 shares in the last quarter. Intech Investment Management LLC bought a new stake in EchoStar in the third quarter valued at $651,000. Stonehill Capital Management LLC acquired a new position in EchoStar during the third quarter worth $9,235,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of EchoStar in the 2nd quarter valued at $833,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

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.