Scientech Research LLC Acquires New Stake in EchoStar Co. (NASDAQ:SATS)

Scientech Research LLC bought a new position in EchoStar Co. (NASDAQ:SATS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,875 shares of the communications equipment provider’s stock, valued at approximately $265,000.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of 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 last quarter. Hexagon Capital Partners LLC raised its holdings in 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 last quarter. Eagle Bay Advisors LLC lifted its stake in shares of EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares in the last quarter. Quarry LP bought a new stake in shares of EchoStar during the fourth quarter valued at approximately $41,000. Finally, Nisa Investment Advisors LLC increased its position in shares of EchoStar by 122.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 2,315 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Down 11.5 %

SATS stock opened at $24.82 on Tuesday. The business’s 50-day moving average is $20.85 and its two-hundred day moving average is $18.13. The company has a market cap of $6.74 billion, a price-to-earnings ratio of -3.22 and a beta of 0.70. EchoStar Co. has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data 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). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, analysts forecast that EchoStar Co. will post -1.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SATS. UBS Group upped their price objective on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. StockNews.com upgraded EchoStar to a “sell” rating in a research note on Tuesday, July 30th. Morgan Stanley increased their price objective on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a research report on Monday, August 12th. Finally, TD Cowen dropped 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. Two analysts have rated the stock with a sell rating, three have assigned 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 currently has a consensus rating of “Hold” and an average target price of $23.00.

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.