Virtue Capital Management LLC Acquires 10,160 Shares of Echostar CORP $ECHO

Virtue Capital Management LLC acquired a new position in Echostar CORP (NASDAQ:ECHO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,160 shares of the company’s stock, valued at approximately $908,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in Echostar in the 3rd quarter worth $25,000. Strive Financial Group LLC purchased a new position in Echostar in the 2nd quarter worth approximately $28,000. SOA Wealth Advisors LLC. purchased a new stake in Echostar during the 1st quarter valued at approximately $34,000. NewEdge Advisors LLC raised its position in shares of Echostar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after buying an additional 186 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Echostar in the first quarter worth $39,000. 33.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ECHO has been the topic of a number of research reports. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a report on Friday, July 17th. Morgan Stanley assumed coverage on Echostar in a research report on Monday, September 14th. They issued an “overweight” rating and a $134.00 target price on the stock. Zacks Research upgraded Echostar from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. Finally, Citigroup decreased their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $138.56.

Echostar Stock Up 1.3%

ECHO stock opened at $98.23 on Tuesday. Echostar CORP has a 12 month low of $65.76 and a 12 month high of $147.25. The business’s 50-day moving average price is $91.18. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings data on Monday, August 3rd. The company reported $24.12 EPS for the quarter, beating the consensus estimate of ($0.02) by $24.14. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. Echostar’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.06) EPS. As a group, research analysts forecast that Echostar CORP will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Bye sold 8,508 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director owned 653 shares of the company’s stock, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Wade sold 2,425 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,508 shares of company stock valued at $1,224,686 in the last quarter. 54.60% of the stock is owned by company insiders.

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.