EchoStar (NASDAQ:SATS) Upgraded by StockNews.com to “Sell”

EchoStar (NASDAQ:SATS) was upgraded by investment analysts at StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

A number of other brokerages also recently commented on SATS. UBS Group lifted their price objective on EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. TD Cowen cut their target price on EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, Morgan Stanley lowered their price target 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 investment analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and a consensus target price of $23.00.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $17.71 on Tuesday. The firm has a 50-day simple moving average of $17.49 and a 200-day simple moving average of $15.27. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -2.30 and a beta of 0.71. EchoStar has a 52 week low of $9.53 and a 52 week high of $24.80.

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

Institutional Trading of EchoStar

Several institutional investors and hedge funds have recently bought and sold shares of SATS. Eagle Bay Advisors LLC increased its position in shares of EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 1,469 shares during the last quarter. Quarry LP purchased a new position in shares of EchoStar during the 4th quarter worth approximately $41,000. Quest Partners LLC acquired a new stake in EchoStar in the 4th quarter valued at approximately $42,000. Central Pacific Bank Trust Division purchased a new stake in EchoStar in the first quarter valued at approximately $67,000. Finally, New York State Teachers Retirement System purchased a new position in shares of EchoStar during the fourth quarter worth $126,000. 33.62% of the stock is currently owned by hedge funds and other 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.