EchoStar (NASDAQ:SATS) Trading Down 4.6% – What’s Next?

EchoStar Co. (NASDAQ:SATS) shares were down 4.6% during mid-day trading on Tuesday . The stock traded as low as $17.14 and last traded at $17.38. Approximately 907,182 shares were traded during trading, a decline of 53% from the average daily volume of 1,911,044 shares. The stock had previously closed at $18.21.

EchoStar Stock Performance

The firm’s 50-day moving average price is $22.29 and its two-hundred day moving average price is $24.67. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -1.82 and a beta of 0.83.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, analysts expect that EchoStar Co. will post -1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock valued at $47,000 after acquiring an additional 567 shares during the period. Xponance Inc. lifted its holdings in EchoStar by 8.7% in the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock valued at $201,000 after acquiring an additional 701 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in EchoStar by 2.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider’s stock valued at $1,090,000 after acquiring an additional 941 shares during the period. Farther Finance Advisors LLC lifted its holdings in EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 975 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock valued at $88,000 after acquiring an additional 976 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Company Profile

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.