EchoStar (NASDAQ:SATS) Shares Up 4.7%

EchoStar Co. (NASDAQ:SATS) rose 4.7% during trading on Thursday . The company traded as high as $19.41 and last traded at $19.28. Approximately 285,347 shares changed hands during trading, a decline of 84% from the average daily volume of 1,749,996 shares. The stock had previously closed at $18.41.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 price target on shares of EchoStar in a research report on Monday, August 12th. UBS Group upped their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen reduced their price target on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EchoStar has a consensus rating of “Hold” and an average price target of $22.00.

EchoStar Price Performance

The stock has a 50-day moving average price of $18.96 and a two-hundred day moving average price of $16.83. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of -2.91 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. EchoStar’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts forecast that EchoStar Co. will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of 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 during the period. Hexagon Capital Partners LLC increased its holdings in shares of EchoStar by 694.8% in the second 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 period. Eagle Bay Advisors LLC raised its stake in shares of EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 1,469 shares during the last quarter. Quarry LP acquired a new stake in shares of EchoStar during the fourth quarter worth about $41,000. Finally, Quest Partners LLC acquired a new stake in shares of EchoStar during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Company Profile

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.