EchoStar (NASDAQ:SATS) Shares Down 4.8% – Here’s Why

EchoStar Corporation (NASDAQ:SATS)’s share price traded down 4.8% during mid-day trading on Wednesday . The stock traded as low as $111.19 and last traded at $111.24. 1,707,192 shares traded hands during trading, a decline of 69% from the average session volume of 5,553,854 shares. The stock had previously closed at $116.90.

Analyst Ratings Changes

Several brokerages have recently weighed in on SATS. Williams Trading set a $158.00 target price on shares of EchoStar in a research note on Wednesday, January 7th. UBS Group increased their price objective on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Citigroup upped their price target on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.17.

EchoStar Stock Performance

The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.56. The company has a market capitalization of $31.66 billion, a PE ratio of -2.19 and a beta of 1.01. The stock has a 50-day simple moving average of $115.52 and a 200 day simple moving average of $88.39.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 285,832 shares of EchoStar stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the sale, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at approximately $39,688,870.65. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On EchoStar

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in shares of EchoStar during the 4th quarter valued at about $26,000. Deseret Mutual Benefit Administrators purchased a new stake in EchoStar in the third quarter valued at approximately $28,000. CoreCap Advisors LLC acquired a new position in EchoStar during the fourth quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new position in EchoStar during the fourth quarter worth approximately $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in EchoStar during the third quarter worth approximately $38,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Company Profile

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.