EchoStar (NASDAQ:SATS) Shares Gap Down to $13.04

EchoStar Co. (NASDAQ:SATSGet Free Report)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $13.04, but opened at $12.70. EchoStar shares last traded at $13.14, with a volume of 81,337 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen reduced their price objective on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. StockNews.com assumed coverage on shares of EchoStar in a research report on Thursday, March 28th. They set a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research note on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, UBS Group raised their price objective on shares of EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.80.

View Our Latest Research Report on SATS

EchoStar Stock Up 3.3 %

The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average price is $13.56 and its 200 day moving average price is $13.73.

EchoStar (NASDAQ:SATSGet Free Report) last released its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $1.19. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The firm had revenue of $4.16 billion during the quarter. During the same quarter in the previous year, the firm posted $0.59 earnings per share. EchoStar’s revenue for the quarter was up 732.2% compared to the same quarter last year. On average, research analysts predict that EchoStar Co. will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EchoStar news, Director James Defranco acquired 110,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $13.48 per share, for a total transaction of $1,482,800.00. Following the completion of the purchase, the director now directly owns 306,951 shares in the company, valued at $4,137,699.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 55.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SATS. MetLife Investment Management LLC lifted its position in shares of EchoStar by 26.9% during the first quarter. MetLife Investment Management LLC now owns 18,851 shares of the communications equipment provider’s stock worth $459,000 after purchasing an additional 3,998 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in EchoStar by 43.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,969 shares of the communications equipment provider’s stock valued at $778,000 after acquiring an additional 9,655 shares in the last quarter. BlackRock Inc. raised its holdings in EchoStar by 3.0% in the first quarter. BlackRock Inc. now owns 3,193,659 shares of the communications equipment provider’s stock valued at $77,734,000 after acquiring an additional 93,524 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in EchoStar by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,688,661 shares of the communications equipment provider’s stock valued at $41,102,000 after acquiring an additional 63,135 shares in the last quarter. Finally, Covestor Ltd raised its holdings in EchoStar by 2,809.6% in the first quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock valued at $133,000 after acquiring an additional 5,282 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

About EchoStar

(Get Free Report)

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.

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