Echostar (NASDAQ:ECHO) Stock Breaks Above 50 Day Moving Average – What’s Next?

Echostar CORP (NASDAQ:ECHO)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $90.57 and traded as high as $95.65. Echostar shares last traded at $94.30, with a volume of 7,878,933 shares traded.

Analysts Set New Price Targets

Several brokerages have weighed in on ECHO. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a research note on Friday, July 17th. Morgan Stanley initiated coverage on shares of Echostar in a research note on Monday, September 14th. They issued an “overweight” rating and a $134.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Echostar in a report on Friday, October 16th. They issued an “overweight” rating and a $144.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Finally, UBS Group raised shares of Echostar from a “neutral” rating to a “buy” rating and raised their price target for the company from $127.00 to $150.00 in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $138.56.

Echostar Stock Down 0.7%

The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. The firm has a fifty day moving average of $90.95.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Monday, August 3rd. The company reported $24.12 EPS for the quarter, beating the consensus estimate of ($0.02) by $24.14. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business earned ($1.06) earnings per share. Echostar’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Echostar CORP will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen Bye sold 8,508 shares of the stock in a transaction on Friday, August 7th. The stock was 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 in the company, valued at approximately $58,658.99. This represents a 92.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The stock was 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 trade represents a 48.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,508 shares of company stock worth $1,224,686 in the last ninety days. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Echostar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC purchased a new stake in shares of Echostar during the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC bought a new position in Echostar in the 2nd quarter worth approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in Echostar in the 1st quarter valued at approximately $34,000. NewEdge Advisors LLC grew its stake in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after buying an additional 186 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Echostar in the 1st quarter valued at approximately $39,000. Institutional investors own 33.62% of the company’s stock.

Echostar Company Profile

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.