Long Focus Capital Management LLC Cuts Stock Position in EchoStar Co. (NASDAQ:SATS)

Long Focus Capital Management LLC reduced its position in EchoStar Co. (NASDAQ:SATS) by 14.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,097,000 shares of the communications equipment provider’s stock after selling 178,302 shares during the period. EchoStar accounts for about 0.7% of Long Focus Capital Management LLC’s portfolio, making the stock its 23rd largest position. Long Focus Capital Management LLC’s holdings in EchoStar were worth $19,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 802 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in shares of EchoStar by 183.6% in the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 1,469 shares in the last quarter. Quarry LP purchased a new position in EchoStar during the 4th quarter worth $41,000. Finally, Quest Partners LLC acquired a new position in EchoStar during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SATS. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. Morgan Stanley upped their price objective on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. TD Cowen reduced their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, UBS Group upped their price target on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.00.

EchoStar Stock Performance

SATS opened at $25.76 on Friday. The firm has a fifty day moving average price of $20.56 and a 200 day moving average price of $17.93. The stock has a market cap of $6.99 billion, a P/E ratio of -3.34 and a beta of 0.70. EchoStar Co. has a 1 year low of $9.53 and a 1 year high of $27.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts anticipate that EchoStar Co. will post -1.81 earnings per share for the current year.

EchoStar 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.