XTX Topco Ltd Invests $183,000 in EchoStar Co. (NASDAQ:SATS)

XTX Topco Ltd acquired a new stake in shares of EchoStar Co. (NASDAQ:SATS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 10,295 shares of the communications equipment provider’s stock, valued at approximately $183,000.

A number of other large investors also recently modified their holdings of the company. 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 worth $26,000 after purchasing an additional 802 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares during the period. Eagle Bay Advisors LLC boosted its holdings in EchoStar by 183.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 1,469 shares during the period. Quarry LP purchased a new stake in EchoStar during the 4th quarter valued at about $41,000. Finally, Central Pacific Bank Trust Division purchased a new position in EchoStar in the 1st quarter worth approximately $67,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SATS. StockNews.com raised EchoStar to a “sell” rating in a research note on Tuesday, July 30th. 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. TD Cowen cut their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. Finally, Morgan Stanley boosted 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EchoStar presently has a consensus rating of “Hold” and an average target price of $23.00.

EchoStar Stock Down 11.5 %

Shares of NASDAQ SATS opened at $24.82 on Tuesday. The firm has a fifty day simple moving average of $20.85 and a two-hundred day simple moving average of $18.13. EchoStar Co. has a 12 month low of $9.53 and a 12 month high of $30.08. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.74 billion, a PE ratio of -3.22 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.39 earnings per share. Equities analysts expect that EchoStar Co. will post -1.81 earnings per share for the current year.

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.