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

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

A number of other research firms have also issued reports on SATS. UBS Group upped their target price on EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Citigroup boosted their price target on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Finally, Williams Trading set a $158.00 price objective on EchoStar in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.17.

EchoStar Stock Up 3.4%

SATS stock opened at $112.18 on Tuesday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.38. The company’s 50 day simple moving average is $115.62 and its 200-day simple moving average is $91.08. EchoStar has a 12 month low of $14.90 and a 12 month high of $132.25. The firm has a market capitalization of $32.29 billion, a PE ratio of -2.23 and a beta of 1.01.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the sale, the chief executive officer owned 823,293 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, COO John Swieringa sold 50,088 shares of EchoStar stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total value of $5,688,995.04. Following the completion of the sale, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Hedge Funds Weigh In On EchoStar

Several large investors have recently added to or reduced their stakes in SATS. Hollencrest Capital Management acquired a new stake in EchoStar in the 4th quarter worth about $26,000. CoreCap Advisors LLC acquired a new position in shares of EchoStar during the 4th quarter valued at about $28,000. Rosenberg Matthew Hamilton purchased a new position in shares of EchoStar during the 4th quarter worth about $29,000. Deseret Mutual Benefit Administrators purchased a new position in shares of EchoStar during the 3rd quarter worth about $28,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of EchoStar in the fourth quarter worth approximately $42,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about EchoStar

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.