EchoStar (NASDAQ:SATS) Upgraded at Zacks Research

Zacks Research upgraded shares of EchoStar (NASDAQ:SATS) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research analysts have also commented on SATS. Morgan Stanley raised shares of EchoStar from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $82.00 to $110.00 in a research note on Wednesday, December 10th. UBS Group reiterated a “buy” rating on shares of EchoStar in a report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.83.

EchoStar Stock Performance

Shares of EchoStar stock opened at $110.06 on Monday. The business’s 50 day moving average price is $111.60 and its 200 day moving average price is $79.43. The company has a market cap of $31.68 billion, a price-to-earnings ratio of -2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61. EchoStar has a one year low of $14.90 and a one year high of $132.25.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO John Swieringa sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the transaction, the chief operating officer directly owned 283,509 shares in the company, valued at $19,091,496.06. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hamid Akhavan sold 285,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $105.33, for a total value of $30,106,684.56. Following the sale, the chief executive officer owned 376,805 shares of the company’s stock, valued at approximately $39,688,870.65. This trade represents a 43.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators bought a new position in shares of EchoStar in the third quarter valued at approximately $28,000. CoreCap Advisors LLC acquired a new position in EchoStar in the 4th quarter valued at $28,000. Rosenberg Matthew Hamilton acquired a new position in EchoStar in the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in EchoStar in the 3rd quarter worth $38,000. Finally, Tucker Asset Management LLC acquired a new position in EchoStar during the 4th quarter worth $42,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.