Inspire Investing LLC Trims Position in EchoStar Co. (NASDAQ:SATS)

Inspire Investing LLC decreased its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 21.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,898 shares of the communications equipment provider’s stock after selling 5,397 shares during the quarter. Inspire Investing LLC’s holdings in EchoStar were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SATS. GAMMA Investing LLC grew its holdings in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 802 shares during the period. Hexagon Capital Partners LLC grew its holdings in EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC increased its position in EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 1,469 shares during the last quarter. Quarry LP purchased a new position in EchoStar during the fourth quarter worth approximately $41,000. Finally, Quest Partners LLC acquired a new position in shares of EchoStar in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

Shares of NASDAQ:SATS opened at $26.04 on Monday. The business’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $17.65. The company has a market cap of $7.07 billion, a P/E ratio of -3.38 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. EchoStar Co. has a one year low of $9.53 and a one year high of $27.15.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. On average, sell-side analysts forecast that EchoStar Co. will post -1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SATS has been the topic of several research reports. StockNews.com raised EchoStar to a “sell” rating in a research report on Tuesday, July 30th. UBS Group raised their price objective on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Morgan Stanley boosted their target price on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. Finally, TD Cowen reduced their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

EchoStar 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.