EchoStar (NASDAQ:SATS) Shares Gap Up to $25.76

EchoStar Co. (NASDAQ:SATS) shares gapped up prior to trading on Friday . The stock had previously closed at $25.76, but opened at $27.00. EchoStar shares last traded at $27.58, with a volume of 293,720 shares trading hands.

Wall Street Analyst Weigh In

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

EchoStar Price Performance

The business’s fifty day simple moving average is $20.74 and its 200 day simple moving average is $18.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -3.64 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). The business 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 business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Research analysts predict that EchoStar Co. will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Several institutional investors and hedge funds have recently made changes to their positions in SATS. Gordian Capital Singapore Pte Ltd bought a new position in shares of EchoStar in the 2nd quarter worth about $89,000. Creative Planning raised its position in shares of EchoStar by 44.7% during the 2nd quarter. Creative Planning now owns 24,904 shares of the communications equipment provider’s stock worth $444,000 after purchasing an additional 7,693 shares during the period. Algert Global LLC boosted its position in EchoStar by 430.1% during the 2nd quarter. Algert Global LLC now owns 86,147 shares of the communications equipment provider’s stock valued at $1,534,000 after purchasing an additional 69,897 shares during the period. Scientech Research LLC bought a new position in EchoStar during the 2nd quarter worth $265,000. Finally, The Manufacturers Life Insurance Company increased its position in EchoStar by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock worth $1,240,000 after buying an additional 2,176 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Company 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.