EchoStar (NASDAQ:SATS) Downgraded by Zacks Research to Hold

EchoStar (NASDAQ:SATS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Citigroup increased their price target on shares of EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. UBS Group lifted their price objective on EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Morgan Stanley upgraded EchoStar from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $110.00 in a research report on Wednesday, December 10th. Williams Trading set a $158.00 price target on EchoStar in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $134.17.

EchoStar Stock Up 3.4%

Shares of EchoStar stock opened at $112.18 on Tuesday. EchoStar has a one year low of $14.90 and a one year high of $132.25. The company has a market cap of $32.29 billion, a P/E ratio of -2.23 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. The firm has a fifty day moving average of $115.62 and a two-hundred day moving average of $91.08.

Insider Activity

In other EchoStar news, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the transaction, the chief operating officer directly owned 253,535 shares in the company, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hamid Akhavan sold 71,005 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the completion of the transaction, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On EchoStar

Several hedge funds have recently bought and sold shares of SATS. DLD Asset Management LP purchased a new stake in EchoStar during the third quarter worth $2,481,700,000. Darsana Capital Partners LP increased its position in shares of EchoStar by 15.5% in the second quarter. Darsana Capital Partners LP now owns 8,960,000 shares of the communications equipment provider’s stock valued at $248,192,000 after buying an additional 1,201,672 shares in the last quarter. Sachem Head Capital Management LP acquired a new position in shares of EchoStar during the 4th quarter worth $568,218,000. Icahn Carl C acquired a new position in shares of EchoStar during the 3rd quarter worth $332,513,000. Finally, Geode Capital Management LLC boosted its position in shares of EchoStar by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,524,576 shares of the communications equipment provider’s stock worth $382,595,000 after buying an additional 48,671 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar News Roundup

Here are the key news stories impacting EchoStar this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer highlighted that the market has been underestimating EchoStar’s spectrum assets, a bullish narrative that can drive retail and momentum flows. Jim Cramer Says “The Market Dramatically Underappreciated the Value of EchoStar’s Spectrum Assets”
• Positive Sentiment: S&P 500 inclusion/support: Recent coverage notes SATS will join the S&P 500 rebalance, which typically triggers one-time index buying and greater institutional interest. S&P Rebalance Article
• Positive Sentiment: Operational catalysts: Analysts and stories point to the upcoming Falcon 9 EchoStar XXV launch and recent spectrum sales as potential revenue/cash-flow inflection points if launches and monetization proceed as planned. Falcon 9 / Valuation Article
• Neutral Sentiment: Marketing/promotions in the ecosystem: Sling TV is running promotions tied to March Madness (may help subscriber engagement for Dish/Sling-related businesses but limited direct impact on EchoStar’s core spectrum/broadband thesis). Sling TV & Trae Young Promotion
• Neutral Sentiment: Carrier/device news: Boost Mobile will offer the new iPhone 17e — industry-level news that is tangential to EchoStar and unlikely to move SATS materially. Boost Mobile to Offer the New iPhone 17e
• Negative Sentiment: Insider selling: CEO Hamid Akhavan sold 71,005 shares (~$7.63M) on March 6, trimming his position by ~7.9%; meaningful insider sales can weigh on sentiment even if insiders remain large holders. SEC Form 4
• Negative Sentiment: Additional insider selling reported (COO sale), reinforcing the insider-sell narrative that could pressure shares. COO Sale Report
• Negative Sentiment: Industry disruption: Gray Media’s blackout of 226 local channels is disrupting DISH TV customers — a near-term headwind for the satellite/pay-TV ecosystem that can create negative headlines across related names. Gray Media Blackout

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.