StockNews.com Initiates Coverage on EchoStar (NASDAQ:SATS)

StockNews.com assumed coverage on shares of EchoStar (NASDAQ:SATSFree Report) in a research note issued to investors on Friday. The brokerage issued a buy rating on the communications equipment provider’s stock.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They issued a neutral rating and a $18.00 price target on the stock. TheStreet cut shares of EchoStar from a c rating to a d+ rating in a research report on Monday, November 6th. Citigroup lowered their price objective on shares of EchoStar from $25.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, October 16th. Finally, Raymond James lowered their price objective on shares of EchoStar from $54.00 to $37.00 and set a strong-buy rating on the stock in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $24.00.

Check Out Our Latest Report on SATS

EchoStar Trading Down 3.8 %

EchoStar stock opened at $13.00 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.23 and a current ratio of 6.23. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 11.71 and a beta of 0.68. EchoStar has a 1 year low of $9.53 and a 1 year high of $24.80. The firm’s 50 day moving average price is $14.18 and its two-hundred day moving average price is $15.20.

Insider Activity

In other news, Director C Mike Schroeder sold 3,020 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $12.29, for a total transaction of $37,115.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 59.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EchoStar

Several institutional investors and hedge funds have recently modified their holdings of the business. Versor Investments LP acquired a new position in shares of EchoStar during the third quarter valued at about $1,849,000. New York Life Investment Management LLC boosted its stake in EchoStar by 443.1% in the third quarter. New York Life Investment Management LLC now owns 122,387 shares of the communications equipment provider’s stock valued at $2,050,000 after acquiring an additional 99,854 shares during the last quarter. Alpine Associates Management Inc. bought a new position in shares of EchoStar during the third quarter worth $3,005,000. Teacher Retirement System of Texas boosted its position in shares of EchoStar by 27.8% during the second quarter. Teacher Retirement System of Texas now owns 39,376 shares of the communications equipment provider’s stock worth $683,000 after purchasing an additional 8,554 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of EchoStar by 20.5% during the second quarter. Janney Montgomery Scott LLC now owns 24,924 shares of the communications equipment provider’s stock worth $432,000 after purchasing an additional 4,244 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

About EchoStar

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EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.

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