EchoStar Co. (NASDAQ:SATS) Given Average Recommendation of “Hold” by Analysts

EchoStar Co. (NASDAQ:SATS) has earned an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.50.

Several equities analysts have recently weighed in on SATS shares. Morgan Stanley started coverage on EchoStar in a research note on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price objective on the stock. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research note on Saturday, November 9th. TD Cowen cut their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st.

EchoStar Trading Down 2.2 %

Shares of SATS opened at $22.57 on Friday. EchoStar has a twelve month low of $11.83 and a twelve month high of $30.08. The firm has a market capitalization of $6.14 billion, a P/E ratio of -2.46 and a beta of 0.69. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The stock’s fifty day simple moving average is $24.07 and its 200 day simple moving average is $21.83.

Insider Activity

In other EchoStar news, Chairman Charles W. Ergen purchased 1,551,355 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares in the company, valued at $43,499,994.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of EchoStar by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,001,832 shares of the communications equipment provider’s stock worth $17,843,000 after buying an additional 29,577 shares during the last quarter. Natixis Advisors LLC increased its position in shares of EchoStar by 24.4% in the 2nd quarter. Natixis Advisors LLC now owns 19,848 shares of the communications equipment provider’s stock worth $353,000 after purchasing an additional 3,893 shares during the last quarter. Rhumbline Advisers raised its stake in shares of EchoStar by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 390,077 shares of the communications equipment provider’s stock valued at $6,947,000 after purchasing an additional 2,445 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of EchoStar by 68.0% during the second quarter. Victory Capital Management Inc. now owns 42,141 shares of the communications equipment provider’s stock worth $751,000 after purchasing an additional 17,053 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in EchoStar by 7.9% in the second quarter. Arizona State Retirement System now owns 35,316 shares of the communications equipment provider’s stock worth $629,000 after purchasing an additional 2,597 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

About EchoStar

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.