EchoStar Co. (NASDAQ:SATS - Get Free Report)'s share price traded up 3.8% on Wednesday . The company traded as high as $23.84 and last traded at $23.60. 264,965 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,207,171 shares. The stock had previously closed at $22.73.
Analyst Ratings Changes
A number of equities research analysts have commented on SATS shares. Raymond James downgraded EchoStar from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 1st. StockNews.com upgraded shares of EchoStar to a "sell" rating in a research report on Saturday, November 9th. TD Cowen lowered their price target on EchoStar from $37.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Finally, Morgan Stanley initiated coverage on EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 target price on the stock. 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.50.
View Our Latest Analysis on EchoStar
EchoStar Stock Up 3.0 %
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 50-day simple moving average of $23.78 and a two-hundred day simple moving average of $22.16. The company has a market cap of $6.37 billion, a PE ratio of -2.56 and a beta of 0.70.
Insider Buying and Selling
In related news, Chairman Charles W. Ergen bought 1,551,355 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 1,551,355 shares of the company's stock, valued at approximately $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 55.90% of the stock is currently owned by company insiders.
Institutional Trading of EchoStar
Institutional investors have recently made changes to their positions in the stock. Darsana Capital Partners LP purchased a new stake in EchoStar during the second quarter valued at about $36,908,000. American Century Companies Inc. lifted its stake in shares of EchoStar by 51.5% in the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider's stock valued at $39,961,000 after purchasing an additional 762,462 shares in the last quarter. Stonehill Capital Management LLC purchased a new stake in shares of EchoStar during the 3rd quarter worth about $9,235,000. Monarch Alternative Capital LP raised its holdings in EchoStar by 23.6% in the second quarter. Monarch Alternative Capital LP now owns 1,854,000 shares of the communications equipment provider's stock valued at $33,020,000 after buying an additional 354,000 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in EchoStar in the second quarter valued at approximately $1,830,000. 33.62% of the stock is owned by hedge funds and other institutional investors.
About EchoStar
(
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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