TD Cowen Has Lowered Expectations for EchoStar (NASDAQ:SATS) Stock Price

EchoStar (NASDAQ:SATS) had its price objective cut by stock analysts at TD Cowen from $37.00 to $30.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. TD Cowen’s target price points to a potential upside of 36.43% from the stock’s previous close.

SATS has been the subject of several other reports. Morgan Stanley upped their price objective on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. UBS Group upped their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. Finally, StockNews.com raised shares of EchoStar to a “sell” rating in a research report on Saturday, November 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, EchoStar currently has an average rating of “Hold” and an average target price of $19.25.

EchoStar Stock Up 2.2 %

Shares of EchoStar stock opened at $21.99 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.32 and a current ratio of 0.67. The business has a 50-day moving average of $24.79 and a two-hundred day moving average of $20.54. EchoStar has a 1 year low of $9.53 and a 1 year high of $30.08.

Insider Buying and Selling at EchoStar

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the acquisition, the chairman now owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of EchoStar by 238.7% in the first quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after purchasing an additional 9,661,167 shares during the last quarter. Darsana Capital Partners LP bought a new stake in EchoStar in the 2nd quarter valued at $36,908,000. Monarch Alternative Capital LP acquired a new position in EchoStar in the 1st quarter valued at $21,375,000. American Century Companies Inc. increased its position in EchoStar by 51.5% during the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock worth $39,961,000 after buying an additional 762,462 shares during the period. Finally, Apollo Management Holdings L.P. acquired a new stake in shares of EchoStar during the first quarter worth $10,507,000. 33.62% of the stock is owned by institutional investors.

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.