Brokerages Set EchoStar Co. (NASDAQ:SATS) PT at $23.75

Shares of EchoStar Co. (NASDAQ:SATS) have received an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.75.

A number of brokerages have recently issued reports on SATS. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. UBS Group lifted their price objective on EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. TD Cowen reduced their price objective on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley began coverage on EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research report on Saturday, November 9th.

Insider Buying and Selling at EchoStar

In other news, Chairman Charles W. Ergen acquired 1,551,355 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the acquisition, the chairman now owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

Institutional investors and hedge funds have recently modified their holdings of the company. Darsana Capital Partners LP acquired a new position in EchoStar during the 2nd quarter worth $36,908,000. Citigroup Inc. grew its stake in EchoStar by 32.7% during the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock worth $4,084,000 after purchasing an additional 40,533 shares in the last quarter. Intech Investment Management LLC acquired a new position in EchoStar during the 3rd quarter worth $651,000. Stonehill Capital Management LLC acquired a new position in EchoStar during the 3rd quarter worth $9,235,000. Finally, Ensign Peak Advisors Inc acquired a new position in EchoStar during the 2nd quarter worth $833,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

SATS opened at $27.66 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The business’s fifty day simple moving average is $24.04 and its 200-day simple moving average is $22.81. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of -3.02 and a beta of 0.70. EchoStar has a 12-month low of $11.83 and a 12-month high of $30.08.

EchoStar Company Profile

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.