Analysts Set EchoStar Co. (NASDAQ:SATS) PT at $23.00

EchoStar Co. (NASDAQ:SATS) has received an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Separately, StockNews.com upgraded EchoStar to a “sell” rating in a report on Tuesday, July 30th.

EchoStar Trading Down 7.3 %

SATS opened at $18.08 on Thursday. EchoStar has a 52-week low of $9.53 and a 52-week high of $24.80. The company has a current ratio of 0.44, a quick ratio of 0.35 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $18.69 and a 200-day moving average of $16.01.

EchoStar (NASDAQ:SATS) last posted its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.23). EchoStar had a positive return on equity of 2.26% and a negative net margin of 23.47%. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the business earned $0.38 EPS. EchoStar’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts forecast that EchoStar will post -1.5 earnings per share for the current fiscal year.

Institutional Trading of EchoStar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 802 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC grew its position in EchoStar by 183.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 1,469 shares during the last quarter. Quarry LP bought a new stake in shares of EchoStar in the 4th quarter worth approximately $41,000. Finally, Quest Partners LLC purchased a new position in shares of EchoStar in the 4th quarter valued at approximately $42,000. 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.