EchoStar (NASDAQ:SATS) Price Target Raised to $28.00 at UBS Group

EchoStar (NASDAQ:SATS) had its target price raised by equities research analysts at UBS Group from $15.00 to $28.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. UBS Group’s price target indicates a potential upside of 20.07% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. TD Cowen reduced their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley initiated coverage on EchoStar in a research note on Monday, December 16th. They set an “equal weight” rating and a $25.00 price target on the stock. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research note on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.75.

EchoStar Price Performance

Shares of SATS stock opened at $23.32 on Monday. EchoStar has a fifty-two week low of $11.83 and a fifty-two week high of $30.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of -2.55 and a beta of 0.70. The stock’s 50-day simple moving average is $23.65 and its 200-day simple moving average is $22.32.

Insiders Place Their Bets

In related news, Chairman Charles W. Ergen acquired 1,551,355 shares of the stock in a transaction 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 transaction, the chairman now owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 55.90% of the stock is owned by insiders.

Hedge Funds Weigh In On EchoStar

Large investors have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in EchoStar in the third quarter valued at $272,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of EchoStar during the 3rd quarter valued at about $1,230,000. State Street Corp increased its stake in shares of EchoStar by 1.3% in the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock valued at $118,546,000 after purchasing an additional 62,674 shares in the last quarter. Stonehill Capital Management LLC acquired a new position in EchoStar in the 3rd quarter worth about $9,235,000. Finally, Darsana Capital Partners LP boosted its position in EchoStar by 44.8% during the third quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock worth $74,460,000 after purchasing an additional 927,695 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

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.