Echostar (NASDAQ:ECHO) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Echostar (NASDAQ:ECHO) in a research report released on Friday, Marketbeat reports. The firm issued an overweight rating and a $144.00 target price on the stock.

Several other research firms also recently issued reports on ECHO. Citigroup dropped their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $134.00 target price on shares of Echostar in a research report on Monday, September 14th. UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and increased their target price for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. TD Cowen decreased their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.56.

Echostar Price Performance

Shares of Echostar stock opened at $85.37 on Friday. Echostar has a 1-year low of $65.76 and a 1-year high of $147.25. The firm has a market capitalization of $24.80 billion, a P/E ratio of -3.43 and a beta of 0.99. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $90.80.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Monday, August 3rd. The company reported $24.12 EPS for the quarter, topping the consensus estimate of ($0.02) by $24.14. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.06) earnings per share. On average, equities analysts expect that Echostar will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Echostar

In related news, Director Stephen Bye sold 8,508 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the sale, the director directly owned 653 shares of the company’s stock, valued at $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Wade sold 2,575 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This represents a 48.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,508 shares of company stock valued at $1,224,686 over the last quarter. Insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Echostar

A number of institutional investors have recently made changes to their positions in ECHO. Ascentis Wealth Management LLC bought a new position in Echostar during the second quarter worth $334,950,000. Tidal Investments LLC bought a new stake in Echostar during the second quarter valued at $159,344,000. Tema ETFs LLC raised its holdings in shares of Echostar by 83,917.0% during the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after purchasing an additional 1,537,359 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Echostar during the second quarter worth $139,004,000. Finally, Bank of America Corp DE raised its holdings in shares of Echostar by 42.4% during the first quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock worth $125,183,000 after purchasing an additional 318,248 shares during the period. 33.62% of the stock is currently owned by institutional investors.

About Echostar

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.