EchoStar (NASDAQ:SATS) Hits New 12-Month High – Still a Buy?

EchoStar Corporation (NASDAQ:SATS) reached a new 52-week high on Friday . The company traded as high as $136.00 and last traded at $135.0640, with a volume of 85995 shares. The stock had previously closed at $132.50.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SATS shares. Citigroup upped their price objective on EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. TD Cowen reissued a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Williams Trading set a $158.00 target price on EchoStar in a research report on Wednesday, January 7th. Finally, UBS Group lifted their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EchoStar currently has an average rating of “Hold” and an average price target of $134.17.

EchoStar Stock Up 1.0%

The firm has a market cap of $38.65 billion, a price-to-earnings ratio of -2.66 and a beta of 1.00. The firm has a 50 day moving average of $115.40 and a 200 day moving average of $100.05. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21.

Insider Buying and Selling at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owned 253,535 shares in the company, valued at $28,796,505.30. This represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EchoStar

Large investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in EchoStar during the fourth quarter worth $26,000. Deseret Mutual Benefit Administrators bought a new stake in shares of EchoStar during the third quarter worth about $28,000. CoreCap Advisors LLC acquired a new stake in shares of EchoStar in the 4th quarter worth about $28,000. Rosenberg Matthew Hamilton bought a new position in EchoStar in the 4th quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in EchoStar in the 3rd quarter valued at about $38,000. 33.62% of the stock is currently owned by institutional investors.

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.