EchoStar Co. (NASDAQ:SATS) Receives $20.50 Consensus Target Price from Brokerages

EchoStar Co. (NASDAQ:SATS) has earned a consensus rating of “Hold” from the five research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.50.

Several analysts recently issued reports on the stock. Morgan Stanley started coverage on shares of EchoStar in a research report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price target for the company. TD Cowen reduced 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. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research note on Saturday, November 9th.

Insider Activity at EchoStar

In other EchoStar news, Chairman Charles W. Ergen purchased 1,551,355 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the transaction, the chairman now owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 55.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in shares of EchoStar during the 3rd quarter worth $272,000. Y Intercept Hong Kong Ltd purchased a new stake in EchoStar during the third quarter worth about $1,230,000. State Street Corp raised its position in EchoStar by 1.3% in the third quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock worth $118,546,000 after acquiring an additional 62,674 shares during the period. Stonehill Capital Management LLC purchased a new position in EchoStar in the third quarter valued at about $9,235,000. Finally, Darsana Capital Partners LP grew its position in shares of EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock valued at $74,460,000 after acquiring an additional 927,695 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Down 0.5 %

Shares of NASDAQ:SATS opened at $22.90 on Friday. The firm has a market cap of $6.23 billion, a P/E ratio of -2.50 and a beta of 0.69. EchoStar has a 52-week low of $11.83 and a 52-week high of $30.08. The business’s 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $21.95. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

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.