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

Echostar CORP (NASDAQ:ECHO)’s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $92.00 and traded as high as $95.45. Echostar shares last traded at $94.62, with a volume of 4,398,858 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. UBS Group upped their target price on Echostar from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen cut their price objective on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Zacks Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price for the company in a report on Friday, July 17th. Two 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 presently has an average rating of “Buy” and an average target price of $139.44.

Echostar Stock Up 5.2%

The company’s 50 day moving average is $92.00. The stock has a market capitalization of $27.49 billion, a P/E ratio of -3.80 and a beta of 1.06. 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 quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 EPS for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $3.00 million. On average, analysts forecast that Echostar CORP will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling at Echostar

In other news, Director William Wade sold 2,425 shares of Echostar stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the completion of the sale, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Echostar

Hedge funds have recently made changes to their positions in the company. Aberdeen Group plc lifted its position in shares of Echostar by 172.9% in the 3rd quarter. Aberdeen Group plc now owns 19,970 shares of the company’s stock worth $1,786,000 after buying an additional 12,653 shares during the last quarter. Allworth Financial LP boosted its position in shares of Echostar by 39.2% during the 3rd quarter. Allworth Financial LP now owns 934 shares of the company’s stock worth $84,000 after acquiring an additional 263 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its stake in shares of Echostar by 11.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 12,467 shares of the company’s stock valued at $1,115,000 after acquiring an additional 1,305 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its stake in shares of Echostar by 29.2% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 704 shares of the company’s stock worth $63,000 after purchasing an additional 159 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its position in shares of Echostar by 13.0% in the third quarter. Maryland State Retirement & Pension System now owns 8,354 shares of the company’s stock valued at $747,000 after acquiring an additional 962 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About Echostar

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.