StockNews.com Initiates Coverage on EchoStar (NASDAQ:SATS)

Equities research analysts at StockNews.com began coverage on shares of EchoStar (NASDAQ:SATSGet Free Report) in a note issued to investors on Friday. The brokerage set a “buy” rating on the communications equipment provider’s stock.

Several other analysts have also issued reports on the stock. Citigroup dropped their price target on shares of EchoStar from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, October 16th. TheStreet lowered shares of EchoStar from a “c” rating to a “d+” rating in a research report on Monday, November 6th. Raymond James dropped their price target on shares of EchoStar from $54.00 to $37.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EchoStar has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Check Out Our Latest Analysis on SATS

EchoStar Stock Performance

Shares of SATS stock opened at $13.52 on Friday. The company’s fifty day simple moving average is $14.14 and its 200-day simple moving average is $15.27. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.13 billion, a PE ratio of 12.18 and a beta of 0.68. EchoStar has a 12 month low of $9.53 and a 12 month high of $24.80.

Insider Activity at EchoStar

In related news, Director C Mike Schroeder sold 3,020 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were 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 SEC, which is available through the SEC website. 59.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EchoStar

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE grew its stake in shares of EchoStar by 126.6% in the second quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 809 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of EchoStar in the first quarter valued at about $34,000. Quest Partners LLC acquired a new stake in EchoStar during the fourth quarter worth about $42,000. Federated Hermes Inc. grew its stake in EchoStar by 95.0% during the third quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 1,377 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in EchoStar by 159.9% during the third quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 1,777 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

About EchoStar

(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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