EchoStar Co. (NASDAQ:SATS - Get Free Report)'s share price shot up 6.1% during mid-day trading on Tuesday . The stock traded as high as $26.29 and last traded at $26.73. 144,628 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,548,263 shares. The stock had previously closed at $25.18.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Morgan Stanley started coverage on EchoStar in a report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price objective for the company. TD Cowen dropped their target price on shares of EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Finally, UBS Group raised their price target on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two investment 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, EchoStar presently has a consensus rating of "Hold" and a consensus price target of $23.75.
View Our Latest Analysis on SATS
EchoStar Stock 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 stock has a 50-day moving average price of $27.28 and a 200 day moving average price of $25.01. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -2.91 and a beta of 0.65.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The firm had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $3.93 billion. As a group, analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal year.
Institutional Investors Weigh In On EchoStar
A number of large investors have recently modified their holdings of SATS. Tiptree Advisors LLC bought a new stake in shares of EchoStar during the 4th quarter worth $3,073,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of EchoStar by 38.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,727 shares of the communications equipment provider's stock worth $7,024,000 after acquiring an additional 84,829 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of EchoStar in the 4th quarter valued at approximately $5,457,000. Woodline Partners LP bought a new stake in shares of EchoStar during the 4th quarter valued at approximately $524,000. Finally, Zimmer Partners LP acquired a new position in EchoStar during the 4th quarter worth approximately $6,526,000. Institutional investors and hedge funds own 33.62% of the company's stock.
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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