EchoStar (NASDAQ:SATS) Shares Down 8.2% – What’s Next?

Shares of EchoStar Co. (NASDAQ:SATS) traded down 8.2% during trading on Tuesday . The company traded as low as $23.78 and last traded at $23.98. 965,489 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,765,752 shares. The stock had previously closed at $26.13.

Analysts Set New Price Targets

Several research firms have recently issued reports on SATS. StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday. TD Cowen dropped their target price on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley upped their price target on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, EchoStar presently has an average rating of “Hold” and an average price target of $21.00.

EchoStar Trading Down 12.9 %

The business has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $20.48. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of -2.83 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last issued its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was down 9.3% on a year-over-year basis. As a group, equities analysts anticipate that EchoStar Co. will post -1.73 EPS for the current year.

Institutional Trading of EchoStar

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 802 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 1,469 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in EchoStar by 122.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 2,315 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of EchoStar in the second quarter worth about $89,000. 33.62% of the stock is owned by institutional investors.

About EchoStar

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.