EchoStar (NASDAQ:SATS) Stock Price Down 3.5%

Shares of EchoStar Co. (NASDAQ:SATS) fell 3.5% on Tuesday . The company traded as low as $24.66 and last traded at $25.26. 350,340 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,777,138 shares. The stock had previously closed at $26.17.

Analyst Ratings Changes

Several research firms have recently commented on SATS. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. UBS Group lifted their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. StockNews.com upgraded EchoStar to a “sell” rating in a report on Tuesday, July 30th. Morgan Stanley raised their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, TD Cowen lowered their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.00.

EchoStar Trading Down 3.6 %

The business’s 50-day simple moving average is $20.24 and its two-hundred day simple moving average is $17.74. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of -3.39 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts forecast that EchoStar Co. will post -1.81 earnings per share for the current year.

Institutional Trading of EchoStar

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC boosted its holdings in shares of EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares during the period. Quarry LP acquired a new position in shares of EchoStar in the fourth quarter worth about $41,000. Finally, Quest Partners LLC acquired a new position in shares of EchoStar in the fourth quarter worth about $42,000. 33.62% of the stock is owned by institutional investors and hedge funds.

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.