Echostar CORP $ECHO Position Boosted by Tema ETFs LLC

Tema ETFs LLC boosted its position in Echostar CORP (NASDAQ:ECHO) by 83,917.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,539,191 shares of the company’s stock after acquiring an additional 1,537,359 shares during the period. Echostar comprises approximately 5.1% of Tema ETFs LLC’s holdings, making the stock its 2nd biggest holding. Tema ETFs LLC owned 0.53% of Echostar worth $156,228,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in Echostar by 6.0% in the second quarter. Handelsbanken Fonder AB now owns 38,942 shares of the company’s stock valued at $3,953,000 after purchasing an additional 2,200 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Echostar by 6,791.9% in the 2nd quarter. Contravisory Investment Management Inc. now owns 9,373 shares of the company’s stock valued at $951,000 after purchasing an additional 9,237 shares during the last quarter. Czech National Bank grew its stake in shares of Echostar by 5.8% during the 2nd quarter. Czech National Bank now owns 38,790 shares of the company’s stock valued at $3,937,000 after buying an additional 2,128 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Echostar by 479.1% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 23,570 shares of the company’s stock valued at $2,392,000 after buying an additional 19,500 shares during the period. Finally, Trust Asset Management LLC acquired a new stake in shares of Echostar during the 2nd quarter worth $154,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Echostar Trading Down 1.3%

Shares of NASDAQ:ECHO opened at $87.98 on Wednesday. The stock has a market cap of $25.56 billion, a P/E ratio of -3.53 and a beta of 1.03. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar CORP has a one year low of $26.52 and a one year high of $147.25.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The company had revenue of $3.67 billion during the quarter. On average, analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

ECHO has been the topic of several research reports. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, July 17th. New Street Research set a $165.00 price target on Echostar in a research note on Monday, June 15th. Weiss Ratings initiated coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Citigroup reduced their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, TD Cowen decreased their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Echostar presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Insiders Place Their Bets

In other news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen J. Bye sold 8,508 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the transaction, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.70% of the company’s stock.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.