UBS Group Forecasts Strong Price Appreciation for EchoStar (NASDAQ:SATS) Stock

EchoStar (NASDAQ:SATS) had its price objective upped by equities research analysts at UBS Group from $15.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. UBS Group’s price target indicates a potential upside of 20.07% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley began coverage on EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective for the company. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, TD Cowen decreased their price objective on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.75.

EchoStar Stock Performance

EchoStar stock opened at $23.32 on Monday. EchoStar has a 1-year low of $11.83 and a 1-year high of $30.08. The company’s 50-day moving average is $23.65 and its 200 day moving average is $22.32. The firm has a market capitalization of $6.34 billion, a P/E ratio of -2.55 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61.

Insider Transactions at EchoStar

In other EchoStar news, Chairman Charles W. Ergen acquired 1,551,355 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 55.90% of the company’s stock.

Institutional Trading of EchoStar

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of EchoStar by 54.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 789 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in EchoStar in the second quarter worth about $89,000. SG Americas Securities LLC purchased a new stake in shares of EchoStar during the third quarter valued at about $165,000. XTX Topco Ltd purchased a new stake in shares of EchoStar during the second quarter valued at about $183,000. Finally, Choreo LLC bought a new stake in shares of EchoStar in the 2nd quarter valued at about $186,000. Hedge funds and other institutional investors 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.