EchoStar (NASDAQ:SATS) Trading 8.8% Higher – Should You Buy?

Shares of EchoStar Co. (NASDAQ:SATS) were up 8.8% on Thursday . The company traded as high as $17.39 and last traded at $17.62. Approximately 1,930,168 shares traded hands during trading, a decline of 2% from the average daily volume of 1,966,569 shares. The stock had previously closed at $16.20.

EchoStar Stock Performance

The business has a 50-day moving average of $21.63 and a two-hundred day moving average of $24.48. The company has a market cap of $5.02 billion, a P/E ratio of -1.91 and a beta of 0.74. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.19. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.87 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) earnings per share. On average, sell-side analysts predict that EchoStar Co. will post -1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On EchoStar

A number of large investors have recently made changes to their positions in SATS. Farther Finance Advisors LLC boosted its holdings in EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 975 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 1,151 shares in the last quarter. Fifth Third Bancorp boosted its holdings in EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 567 shares in the last quarter. State of Wyoming acquired a new stake in EchoStar in the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC boosted its holdings in EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after acquiring an additional 976 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

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.