Echostar (NASDAQ:ECHO) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Echostar (NASDAQ:ECHO) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks reports.

ECHO has been the topic of several other research reports. UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and upped their target price for the company from $127.00 to $150.00 in a research report on Tuesday, September 8th. TD Cowen decreased their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Morgan Stanley reiterated an “overweight” rating and issued a $134.00 target price on shares of Echostar in a report on Monday, September 14th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price for the company in a report on Friday, July 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Echostar has an average rating of “Buy” and an average price target of $138.56.

Echostar Trading Up 0.2%

Shares of ECHO opened at $86.39 on Monday. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average price is $90.71. Echostar has a 12 month low of $65.76 and a 12 month high of $147.25. The company has a market capitalization of $25.10 billion, a PE ratio of -3.47 and a beta of 0.99.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $24.14. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the business posted ($1.06) EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts predict that Echostar will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Echostar

In other Echostar news, Director William Wade sold 2,575 shares of Echostar stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. The trade was a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Bye sold 8,508 shares of Echostar stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the sale, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,508 shares of company stock worth $1,224,686. 54.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Echostar

Several institutional investors have recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in shares of Echostar in the 3rd quarter valued at about $25,000. Strive Financial Group LLC bought a new stake in Echostar in the 2nd quarter valued at about $28,000. SOA Wealth Advisors LLC. bought a new stake in Echostar in the 1st quarter valued at about $34,000. Pittenger & Anderson Inc. acquired a new position in Echostar during the 2nd quarter worth approximately $38,000. Finally, NewEdge Advisors LLC raised its stake in Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.