William David Wade Sells 2,425 Shares of Echostar (NASDAQ:ECHO) Stock

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,425 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the sale, the director directly owned 324 shares in the company, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, August 12th, William David Wade sold 2,575 shares of Echostar stock. The shares were sold at an average price of $92.65, for a total value of $238,573.75.

Echostar Trading Up 0.2%

ECHO traded up $0.21 on Friday, hitting $91.89. 2,112,664 shares of the stock were exchanged, compared to its average volume of 7,037,955. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar CORP has a 12 month low of $26.52 and a 12 month high of $147.25.

Echostar (NASDAQ:ECHO) last issued its earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Analysts predict that Echostar CORP will post -1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ECHO has been the subject of a number of research analyst reports. New Street Research set a $165.00 price target on Echostar in a report on Monday, June 15th. Wall Street Zen upgraded Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. Raymond James Financial raised shares of 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, Williams Trading set a $155.00 price target on shares of Echostar in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued 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 price target of $132.00.

Hedge Funds Weigh In On Echostar

A number of institutional investors and hedge funds have recently bought and sold shares of ECHO. Parallel Advisors LLC raised its position in Echostar by 4.1% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock valued at $245,000 after purchasing an additional 83 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Echostar by 0.4% during the first quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock worth $2,674,000 after purchasing an additional 84 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Echostar by 2.0% during the fourth quarter. HB Wealth Management LLC now owns 4,933 shares of the company’s stock worth $536,000 after purchasing an additional 98 shares during the last quarter. Strs Ohio increased its stake in shares of Echostar by 0.5% in the first quarter. Strs Ohio now owns 19,100 shares of the company’s stock valued at $2,236,000 after buying an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Echostar by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company’s stock valued at $611,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

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.