6,860 Shares in EchoStar Corporation $SATS Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new position in EchoStar Corporation (NASDAQ:SATS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,860 shares of the communications equipment provider’s stock, valued at approximately $746,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. DLD Asset Management LP acquired a new position in EchoStar in the third quarter valued at approximately $2,481,700,000. Icahn Carl C bought a new stake in EchoStar during the third quarter worth approximately $332,513,000. Geode Capital Management LLC raised its holdings in EchoStar by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,524,576 shares of the communications equipment provider’s stock worth $382,595,000 after purchasing an additional 48,671 shares in the last quarter. Northern Trust Corp raised its holdings in EchoStar by 2.8% during the third quarter. Northern Trust Corp now owns 1,744,438 shares of the communications equipment provider’s stock worth $133,205,000 after purchasing an additional 48,322 shares in the last quarter. Finally, Norges Bank bought a new stake in EchoStar during the fourth quarter worth approximately $182,111,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. New Street Research started coverage on EchoStar in a research report on Wednesday, May 13th. They issued a “buy” rating and a $161.00 target price for the company. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group raised their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Finally, Williams Trading set a $155.00 target price on EchoStar in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $137.14.

EchoStar Trading Down 6.7%

Shares of NASDAQ:SATS opened at $116.28 on Friday. The stock has a market capitalization of $33.70 billion, a PE ratio of -2.32 and a beta of 0.94. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $147.25. The firm has a fifty day moving average price of $125.72 and a 200 day moving average price of $112.77. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.During the same quarter in the prior year, the company posted ($0.71) earnings per share. Analysts expect that EchoStar Corporation will post -3.79 EPS for the current fiscal year.

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.