John Swieringa Sells 50,088 Shares of EchoStar (NASDAQ:SATS) Stock

EchoStar Corporation (NASDAQ:SATS) COO John Swieringa sold 50,088 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the sale, the chief operating officer owned 253,535 shares in the company, valued at approximately $28,796,505.30. This trade represents a 16.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

EchoStar Stock Down 4.2%

NASDAQ:SATS opened at $106.24 on Friday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.56. The firm’s 50-day moving average price is $115.54 and its 200-day moving average price is $89.36. The company has a market capitalization of $30.58 billion, a PE ratio of -2.11 and a beta of 1.01. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $132.25.

Institutional Investors Weigh In On EchoStar

Several institutional investors and hedge funds have recently made changes to their positions in SATS. Hollencrest Capital Management purchased a new stake in EchoStar during the 4th quarter valued at $26,000. Deseret Mutual Benefit Administrators bought a new stake in shares of EchoStar in the 3rd quarter worth $28,000. CoreCap Advisors LLC purchased a new position in shares of EchoStar in the fourth quarter worth $28,000. Rosenberg Matthew Hamilton bought a new position in shares of EchoStar during the fourth quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar during the third quarter valued at $38,000. Institutional investors own 33.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SATS shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a report on Friday, December 19th. TD Cowen restated a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. UBS Group boosted their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $82.00 to $110.00 in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

EchoStar Company Profile

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.