Echostar (NASDAQ:ECHO) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Shares of Echostar CORP (NASDAQ:ECHO) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $90.57 and traded as high as $95.65. Echostar shares last traded at $94.30, with a volume of 7,878,933 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Zacks Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. UBS Group raised shares of Echostar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $127.00 to $150.00 in a report on Tuesday, September 8th. JPMorgan Chase & Co. assumed coverage on shares of Echostar in a research note on Friday, October 16th. They issued an “overweight” rating and a $144.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Echostar in a report on Monday, September 14th. They set an “overweight” rating and a $134.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $138.56.

Echostar Price Performance

The company’s fifty day moving average is $90.57. The stock has a market capitalization of $27.39 billion, a price-to-earnings ratio of -3.78 and a beta of 0.99. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO) last released its earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $24.14. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.06) earnings per share. On average, research analysts anticipate that Echostar CORP will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Echostar

In other Echostar news, Director William Wade sold 2,575 shares of Echostar stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the sale, the director owned 2,749 shares of the company’s stock, valued at $254,694.85. The trade was a 48.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Bye sold 8,508 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the sale, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,508 shares of company stock valued at $1,224,686. 54.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Echostar

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Echostar in the 3rd quarter valued at about $25,000. Strive Financial Group LLC purchased a new stake in shares of Echostar in the 2nd quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Echostar during the 1st quarter worth approximately $34,000. Pittenger & Anderson Inc. acquired a new stake in shares of Echostar during the 2nd quarter worth approximately $38,000. Finally, NewEdge Advisors LLC increased 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 buying an additional 186 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.