EchoStar (NASDAQ:SATS) Sees Strong Trading Volume

Shares of EchoStar Co. (NASDAQ:SATS) saw unusually-high trading volume on Friday . Approximately 451,571 shares were traded during trading, an increase of 12% from the previous session’s volume of 401,904 shares.The stock last traded at $9.95 and had previously closed at $9.68.

Analysts Set New Price Targets

SATS has been the topic of a number of recent research reports. Raymond James dropped their price objective on shares of EchoStar from $54.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 7th. TheStreet downgraded shares of EchoStar from a “c” rating to a “d+” rating in a research note on Monday, November 6th. StockNews.com initiated coverage on shares of EchoStar in a research note on Monday, November 13th. They set a “buy” rating on the stock. Finally, Citigroup lowered their target price on shares of EchoStar from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, October 16th.

EchoStar Trading Up 7.7 %

The company has a market capitalization of $875.18 million, a price-to-earnings ratio of 9.40 and a beta of 0.77. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.41. The company’s 50 day simple moving average is $14.55 and its two-hundred day simple moving average is $16.75.

Institutional Investors Weigh In On EchoStar

Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in shares of EchoStar by 27.8% in the second quarter. Teacher Retirement System of Texas now owns 39,376 shares of the communications equipment provider’s stock worth $683,000 after buying an additional 8,554 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of EchoStar by 20.5% in the second quarter. Janney Montgomery Scott LLC now owns 24,924 shares of the communications equipment provider’s stock worth $432,000 after buying an additional 4,244 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of EchoStar by 13.4% in the first quarter. New York Life Investment Management LLC now owns 26,436 shares of the communications equipment provider’s stock worth $484,000 after buying an additional 3,132 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of EchoStar by 56.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 69,292 shares of the communications equipment provider’s stock worth $1,267,000 after buying an additional 24,980 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of EchoStar by 42.8% in the second quarter. Van ECK Associates Corp now owns 13,921 shares of the communications equipment provider’s stock worth $241,000 after buying an additional 4,171 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.