BidaskClub downgraded shares of Echostar (NASDAQ:SATS) from a buy rating to a hold rating in a report issued on Wednesday, BidAskClub reports.

A number of other analysts also recently issued reports on the company. Raymond James reissued a strong-buy rating and issued a $61.00 target price (down from $68.00) on shares of Echostar in a research report on Wednesday, September 11th. Zacks Investment Research downgraded Echostar from a buy rating to a hold rating in a research report on Thursday, October 10th. Finally, Citigroup downgraded Echostar from a buy rating to a neutral rating and decreased their target price for the stock from $48.00 to $44.00 in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Echostar has an average rating of Hold and an average price target of $49.67.

NASDAQ:SATS traded up $0.26 during trading hours on Wednesday, reaching $36.67. The stock had a trading volume of 2,587 shares, compared to its average volume of 458,846. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.94 and a current ratio of 6.10. The stock has a 50 day simple moving average of $39.72 and a 200 day simple moving average of $41.39. Echostar has a 12-month low of $27.29 and a 12-month high of $41.32. The stock has a market cap of $3.48 billion, a P/E ratio of 96.46 and a beta of 0.80.

Echostar (NASDAQ:SATS) last released its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.17). Echostar had a positive return on equity of 0.46% and a negative net margin of 4.09%. The firm had revenue of $537.12 million during the quarter, compared to analysts’ expectations of $538.80 million. During the same period in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Echostar will post 1.01 earnings per share for the current fiscal year.

In other Echostar news, CEO Michael T. Dugan sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 52.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of Echostar by 281.5% in the third quarter. Meeder Asset Management Inc. now owns 7,607 shares of the communications equipment provider’s stock worth $302,000 after acquiring an additional 5,613 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Echostar in the third quarter worth $594,000. Park West Asset Management LLC boosted its holdings in shares of Echostar by 23.8% in the second quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock worth $43,064,000 after acquiring an additional 186,615 shares during the period. Natixis bought a new position in shares of Echostar in the second quarter worth $2,508,000. Finally, Indaba Capital Management L.P. boosted its holdings in shares of Echostar by 10.7% in the second quarter. Indaba Capital Management L.P. now owns 751,925 shares of the communications equipment provider’s stock worth $33,325,000 after acquiring an additional 72,806 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

Echostar Company Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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