Insider Selling: Echostar (NASDAQ:ECHO) Director Sells $221,839.00 in Stock

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,425 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. This trade represents a 88.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

William David Wade also recently made the following trade(s):

• On Wednesday, August 12th, William David Wade sold 2,575 shares of Echostar stock. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75.

Echostar Price Performance

Shares of NASDAQ ECHO opened at $91.89 on Monday. The firm has a market capitalization of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar CORP has a one year low of $26.52 and a one year high of $147.25.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The company had revenue of $3.67 billion for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. As a group, equities research analysts forecast that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Echostar

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Echostar during the 4th quarter valued at about $26,000. SOA Wealth Advisors LLC. purchased a new position in Echostar in the 1st quarter worth approximately $34,000. NewEdge Advisors LLC boosted its holdings in shares of Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Echostar during the 1st quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Echostar in the second quarter valued at approximately $38,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 17th. Citigroup cut their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. TD Cowen decreased their target price on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. Finally, Williams Trading set a $155.00 price target on Echostar in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Echostar has an average rating of “Moderate Buy” and an average price target of $132.00.

Echostar Company Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.