EchoStar (NASDAQ:SATS) Stock Price Down 3.5%

EchoStar Co. (NASDAQ:SATS)’s stock price fell 3.5% during trading on Tuesday . The company traded as low as $24.66 and last traded at $25.26. 350,340 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,777,138 shares. The stock had previously closed at $26.17.

Analyst Ratings Changes

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

EchoStar Stock Down 3.6 %

The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -3.39 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. The stock has a 50-day moving average of $20.24 and a 200-day moving average of $17.74.

EchoStar (NASDAQ:SATS) last released its earnings results 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 firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the prior year, the business earned $0.39 earnings per share. EchoStar’s quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts predict that EchoStar Co. will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp raised its position in shares of EchoStar by 263.3% during the first quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 76,407 shares during the period. UniSuper Management Pty Ltd bought a new stake in EchoStar in the 1st quarter valued at about $398,000. P Schoenfeld Asset Management LP bought a new position in EchoStar during the fourth quarter worth about $3,782,000. Vanguard Group Inc. lifted its stake in shares of EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after buying an additional 9,661,167 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in EchoStar during the 1st quarter valued at $511,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

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.