EchoStar (NASDAQ:SATS) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of EchoStar (NASDAQ:SATS - Free Report) in a research report released on Monday morning. The brokerage issued an equal weight rating and a $25.00 price objective on the communications equipment provider's stock.

Other analysts also recently issued reports about the company. StockNews.com raised EchoStar to a "sell" rating in a report on Saturday, November 9th. Raymond James cut EchoStar from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Finally, TD Cowen dropped their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.50.

EchoStar Stock Up 1.7 %

NASDAQ:SATS traded up $0.40 during mid-day trading on Monday, hitting $23.74. The stock had a trading volume of 1,551,468 shares, compared to its average volume of 1,787,797. EchoStar has a twelve month low of $11.83 and a twelve month high of $30.08. The stock has a 50-day simple moving average of $24.56 and a two-hundred day simple moving average of $21.64. 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 company has a market capitalization of $6.45 billion, a PE ratio of -2.59 and a beta of 0.69.

Insider Activity at EchoStar

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the acquisition, the chairman now directly owns 1,551,355 shares of the company's stock, valued at $43,499,994.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in shares of EchoStar in the 3rd quarter valued at approximately $272,000. Y Intercept Hong Kong Ltd purchased a new position in EchoStar in the 3rd quarter valued at $1,230,000. State Street Corp increased its stake in 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 buying an additional 62,674 shares during the period. Stonehill Capital Management LLC acquired a new position in EchoStar in the 3rd quarter valued at $9,235,000. Finally, Darsana Capital Partners LP raised its position in EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider's stock worth $74,460,000 after buying an additional 927,695 shares during 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.