EchoStar (NASDAQ:SATS) Hits New 52-Week High at $27.20

EchoStar Co. (NASDAQ:SATS) reached a new 52-week high during trading on Monday . The company traded as high as $27.20 and last traded at $27.20, with a volume of 4861 shares. The stock had previously closed at $26.04.

Wall Street Analyst Weigh In

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

EchoStar Stock Performance

The stock has a market capitalization of $6.88 billion, a P/E ratio of -3.29 and a beta of 0.70. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The business has a fifty day moving average price of $20.34 and a 200-day moving average price of $17.82.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of EchoStar by 183.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 1,469 shares in the last quarter. Quarry LP purchased a new position in shares of EchoStar during the 4th quarter valued at about $41,000. Finally, Quest Partners LLC purchased a new position in shares of EchoStar during the 4th quarter valued at about $42,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

About EchoStar

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.