EchoStar (NASDAQ:SATS) Stock Price Up 4.3%

EchoStar Co. (NASDAQ:SATSGet Free Report)’s share price rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $17.05 and last traded at $16.75. Approximately 724,658 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 6,013,389 shares. The stock had previously closed at $16.06.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SATS. JPMorgan Chase & Co. initiated coverage on EchoStar in a research report on Wednesday. They set a “neutral” rating and a $18.00 price target on the stock. StockNews.com started coverage on shares of EchoStar in a report on Tuesday. They issued a “buy” rating for the company. Raymond James lowered their price objective on shares of EchoStar from $54.00 to $37.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 7th. TheStreet cut shares of EchoStar from a “c” rating to a “d+” rating in a research report on Monday, November 6th. Finally, Citigroup lowered their target price on EchoStar from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Read Our Latest Research Report on SATS

EchoStar Stock Up 0.3 %

The stock’s fifty day moving average price is $12.88 and its 200-day moving average price is $15.80. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.77 and a beta of 0.71. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.41.

EchoStar (NASDAQ:SATSGet Free Report) last issued its quarterly earnings results on Monday, November 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.17). EchoStar had a net margin of 5.14% and a return on equity of 3.47%. The business had revenue of $413.07 million during the quarter, compared to analyst estimates of $479.00 million. On average, sell-side analysts predict that EchoStar Co. will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EchoStar news, Director C Mike Schroeder sold 3,020 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $12.29, for a total value of $37,115.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 59.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC grew its holdings in EchoStar by 26.9% during the first quarter. MetLife Investment Management LLC now owns 18,851 shares of the communications equipment provider’s stock worth $459,000 after purchasing an additional 3,998 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of EchoStar by 43.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,969 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 9,655 shares during the last quarter. BlackRock Inc. increased its holdings in shares of EchoStar by 3.0% during the 1st quarter. BlackRock Inc. now owns 3,193,659 shares of the communications equipment provider’s stock worth $77,734,000 after acquiring an additional 93,524 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in EchoStar by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,688,661 shares of the communications equipment provider’s stock valued at $41,102,000 after purchasing an additional 63,135 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in EchoStar by 2,809.6% during the 1st quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock valued at $133,000 after purchasing an additional 5,282 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.

EchoStar Company Profile

(Get Free Report)

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.

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