Gordian Capital Singapore Pte Ltd Makes New Investment in EchoStar Co. (NASDAQ:SATS)

Gordian Capital Singapore Pte Ltd acquired a new stake in EchoStar Co. (NASDAQ:SATS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the communications equipment provider’s stock, valued at approximately $89,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in EchoStar by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock worth $1,081,000 after acquiring an additional 1,100 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC increased 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 valued at $32,000 after purchasing an additional 1,469 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of EchoStar by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock valued at $1,240,000 after purchasing an additional 2,176 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SATS shares. TD Cowen lowered their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. UBS Group upped their price objective 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 lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Morgan Stanley upped their price target on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, StockNews.com raised shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

EchoStar Price Performance

EchoStar stock opened at $24.09 on Wednesday. EchoStar Co. has a 52 week low of $9.53 and a 52 week high of $30.08. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $20.85 and its 200 day simple moving average is $18.13. The firm has a market capitalization of $6.54 billion, a PE ratio of -3.12 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last released 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). The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. EchoStar’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities research analysts predict that EchoStar Co. will post -1.81 EPS for the current fiscal 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.