EchoStar (NASDAQ:SATS) Reaches New 12-Month High – Here’s What Happened

EchoStar Corporation (NASDAQ:SATS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $137.47 and last traded at $135.3360, with a volume of 4201997 shares changing hands. The stock had previously closed at $129.38.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. UBS Group raised their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Finally, New Street Research initiated coverage on EchoStar in a research note on Wednesday. They issued a “buy” rating and a $161.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $138.00.

EchoStar Price Performance

The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.38 and a current ratio of 0.30. The stock has a market cap of $39.62 billion, a PE ratio of -2.73 and a beta of 0.95. The stock’s 50-day moving average is $120.18 and its two-hundred day moving average is $106.81.

EchoStar (NASDAQ:SATS) last announced its earnings results on Monday, May 11th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the firm earned ($0.71) EPS. On average, equities analysts predict that EchoStar Corporation will post -2.51 earnings per share for the current year.

Insider Buying and Selling at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the transaction, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at $88,520,463.36. The trade was a 7.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Swieringa sold 50,088 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the sale, the chief operating officer directly owned 253,535 shares in the company, valued at $28,796,505.30. This represents a 16.50% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EchoStar

Several large investors have recently added to or reduced their stakes in SATS. Hollencrest Capital Management acquired a new position in shares of EchoStar in the fourth quarter worth $26,000. CoreCap Advisors LLC acquired a new stake in shares of EchoStar in the fourth quarter valued at $28,000. Rosenberg Matthew Hamilton purchased a new position in EchoStar in the fourth quarter valued at $29,000. Deseret Mutual Benefit Administrators acquired a new position in EchoStar during the 3rd quarter worth $28,000. Finally, Tucker Asset Management LLC purchased a new stake in EchoStar during the 4th quarter worth about $42,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.