Hsbc Holdings PLC Has $202,000 Stock Position in EchoStar Co. (NASDAQ:SATS)

Hsbc Holdings PLC trimmed its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,352 shares of the communications equipment provider’s stock after selling 2,758 shares during the period. Hsbc Holdings PLC’s holdings in EchoStar were worth $202,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SATS. P Schoenfeld Asset Management LP bought a new position in EchoStar during the fourth quarter worth $3,782,000. Pennant Select LLC acquired a new stake in shares of EchoStar in the 4th quarter valued at about $36,892,000. Pennant Investors LP bought a new stake in EchoStar in the 4th quarter valued at about $35,679,000. Clear Street Markets LLC acquired a new position in EchoStar during the 4th quarter worth approximately $198,000. Finally, Quarry LP bought a new position in EchoStar in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Trading Down 1.6 %

NASDAQ:SATS opened at $23.29 on Friday. EchoStar Co. has a 52 week low of $9.53 and a 52 week high of $30.08. The firm has a 50-day moving average price of $21.17 and a two-hundred day moving average price of $18.40. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of -3.02 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data 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 positive return on equity of 0.18% and a negative net margin of 18.65%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts expect that EchoStar Co. will post -1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.