Echostar (NASDAQ:ECHO) Director William David Wade Sells 2,575 Shares of Stock

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,575 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the sale, the director owned 2,749 shares in the company, valued at $254,694.85. This represents a 48.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

William David Wade also recently made the following trade(s):

• On Thursday, August 13th, William David Wade sold 2,425 shares of Echostar stock. The shares were sold at an average price of $91.48, for a total transaction of $221,839.00.

Echostar Trading Up 0.2%

ECHO stock opened at $91.89 on Friday. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. Echostar CORP has a 52-week low of $26.52 and a 52-week high of $147.25.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The company had revenue of $3.67 billion for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, equities research analysts anticipate that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Echostar

Several institutional investors have recently modified their holdings of ECHO. Hollencrest Capital Management purchased a new stake in shares of Echostar during the fourth quarter valued at approximately $26,000. SOA Wealth Advisors LLC. purchased a new position in Echostar in the first quarter worth $34,000. NewEdge Advisors LLC grew its stake in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after purchasing an additional 186 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in Echostar in the 1st quarter valued at $39,000. Finally, Pittenger & Anderson Inc. bought a new position in Echostar in the 2nd quarter valued at $38,000. 33.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

ECHO has been the subject of a number of analyst reports. New Street Research set a $165.00 price target on Echostar in a research report on Monday, June 15th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup reduced their target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. Finally, Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Echostar has an average rating of “Moderate Buy” and an average target price of $132.00.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.