EchoStar (NASDAQ:SATS) Stock Price Down 5% – What’s Next?

Shares of EchoStar Corporation (NASDAQ:SATS) dropped 5% on Wednesday . The company traded as low as $116.50 and last traded at $114.9570. Approximately 2,548,584 shares were traded during trading, a decline of 64% from the average daily volume of 7,038,973 shares. The stock had previously closed at $120.97.

Analyst Upgrades and Downgrades

SATS has been the subject of several analyst reports. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Williams Trading set a $155.00 price objective on shares of EchoStar in a report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, TD Cowen boosted their target price on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and a consensus target price of $137.71.

EchoStar Stock Down 2.3%

The firm has a 50-day moving average price of $125.02 and a two-hundred day moving average price of $116.05. The firm has a market cap of $31.64 billion, a price-to-earnings ratio of -2.18 and a beta of 0.94. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results 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 analyst estimates of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same period last year, the company earned ($0.71) earnings per share.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the transaction, the chief executive officer owned 865,633 shares in the company, valued at approximately $104,741,593. This represents a 5.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

Several hedge funds and other institutional investors have recently bought and sold shares of SATS. Hollencrest Capital Management acquired a new position in EchoStar in the fourth quarter valued at $26,000. CoreCap Advisors LLC acquired a new stake in shares of EchoStar during the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of EchoStar in the 4th quarter valued at about $29,000. SOA Wealth Advisors LLC. purchased a new stake in shares of EchoStar in the 1st quarter valued at about $34,000. Finally, NewEdge Advisors LLC boosted its position in shares of EchoStar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 186 shares during the period. 33.62% of the stock is currently owned by institutional investors and hedge funds.

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.