EchoStar (NASDAQ:SATS) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

EchoStar Co. (NASDAQ:SATS - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.58 and traded as high as $27.02. EchoStar shares last traded at $27.00, with a volume of 2,312,934 shares.

Wall Street Analysts Forecast Growth

SATS has been the subject of several analyst reports. Raymond James downgraded EchoStar from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. UBS Group boosted their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Morgan Stanley initiated coverage on EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price objective for the company. TD Cowen reduced their price objective on EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded EchoStar to a "sell" rating in a research report on Saturday, November 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $23.75.

EchoStar Price Performance

The company has a market cap of $7.54 billion, a P/E ratio of -3.03 and a beta of 0.70. The company has a fifty day simple moving average of $23.60 and a 200-day simple moving average of $22.58. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61.

Insider Buying and Selling at EchoStar

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the purchase, the chairman now directly owns 1,551,355 shares in the company, valued at $43,499,994.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 55.90% of the stock is owned by corporate insiders.

Institutional Trading of EchoStar

Large investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of EchoStar in the second quarter worth $1,830,000. XTX Topco Ltd acquired a new position in shares of EchoStar in the second quarter worth $183,000. Thrivent Financial for Lutherans increased its stake in shares of EchoStar by 11.0% in the second quarter. Thrivent Financial for Lutherans now owns 116,034 shares of the communications equipment provider's stock worth $2,067,000 after acquiring an additional 11,537 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of EchoStar in the second quarter worth $833,000. Finally, Public Sector Pension Investment Board boosted its holdings in EchoStar by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 265,257 shares of the communications equipment provider's stock worth $4,724,000 after purchasing an additional 18,357 shares in the last quarter. 33.62% of the stock is 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.