EchoStar (NASDAQ:SATS) Shares Gap Down to $24.82

EchoStar Co. (NASDAQ:SATS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $24.82, but opened at $24.16. EchoStar shares last traded at $23.25, with a volume of 144,613 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on SATS. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.00.

EchoStar Stock Performance

The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.45 billion, a PE ratio of -3.07 and a beta of 0.70. The firm’s fifty day moving average price is $20.85 and its 200 day moving average price is $18.13.

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

Hedge Funds Weigh In On EchoStar

A number of hedge funds have recently added to or reduced their stakes in SATS. GAMMA Investing LLC raised its holdings in EchoStar by 125.3% during the second 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 in the last quarter. Hexagon Capital Partners LLC lifted its holdings in EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC boosted 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 period. Quarry LP acquired a new position in EchoStar during the fourth quarter valued at approximately $41,000. Finally, Central Pacific Bank Trust Division acquired a new position in EchoStar during the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

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.