EchoStar Co. (NASDAQ:SATS) Receives Average Recommendation of “Hold” from Brokerages

Shares of EchoStar Co. (NASDAQ:SATS) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.50.

A number of research analysts have recently weighed in on SATS shares. StockNews.com upgraded EchoStar to a “sell” rating in a research report on Saturday, November 9th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley initiated coverage on EchoStar in a research note on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Finally, TD Cowen lowered their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Insider Activity

In other news, Chairman Charles W. Ergen acquired 1,551,355 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the purchase, the chairman now directly owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

Several institutional investors have recently made changes to their positions in SATS. GAMMA Investing LLC raised its position in EchoStar by 54.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 789 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in shares of EchoStar during the second quarter valued at approximately $89,000. SG Americas Securities LLC purchased a new stake in shares of EchoStar in the third quarter worth approximately $165,000. XTX Topco Ltd purchased a new stake in shares of EchoStar in the second quarter worth approximately $183,000. Finally, Choreo LLC bought a new stake in shares of EchoStar during the 2nd quarter worth approximately $186,000. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $23.11 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of -2.52 and a beta of 0.70. The firm has a fifty day moving average price of $23.87 and a 200 day moving average price of $22.04. EchoStar has a fifty-two week low of $11.83 and a fifty-two week high of $30.08.

About EchoStar

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.