EchoStar Co. (NASDAQ:SATS - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $23.57, but opened at $22.00. EchoStar shares last traded at $23.07, with a volume of 612,548 shares traded.
Wall Street Analyst Weigh In
SATS has been the subject of a number of research reports. Morgan Stanley lifted their price objective on EchoStar from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, September 13th. UBS Group raised their price target on shares of EchoStar from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. TD Cowen reduced their target price on shares of EchoStar from $37.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Raymond James lowered EchoStar from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 1st. Finally, StockNews.com raised EchoStar to a "sell" rating in a research report on Saturday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, EchoStar has a consensus rating of "Hold" and an average price target of $19.25.
Read Our Latest Research Report on SATS
EchoStar Price Performance
The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -2.50 and a beta of 0.70. The stock has a 50-day moving average price of $24.92 and a 200 day moving average price of $20.82.
Insiders Place Their Bets
In related news, Chairman Charles W. Ergen purchased 1,551,355 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the transaction, the chairman now directly owns 1,551,355 shares of the company's stock, valued at approximately $43,499,994.20. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 55.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in EchoStar by 238.7% in 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 purchasing an additional 9,661,167 shares in the last quarter. Darsana Capital Partners LP acquired a new position in EchoStar during the second quarter worth $36,908,000. Monarch Alternative Capital LP purchased a new position in EchoStar in the first quarter worth $21,375,000. American Century Companies Inc. lifted its holdings in EchoStar by 51.5% in the second quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider's stock valued at $39,961,000 after acquiring an additional 762,462 shares during the period. Finally, Apollo Management Holdings L.P. purchased a new stake in shares of EchoStar during the 1st quarter worth $10,507,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Company Profile
(
Get Free Report)
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.
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