EchoStar (NASDAQ:SATS) Trading Down 8.2% – Time to Sell?

Shares of EchoStar Co. (NASDAQ:SATS) fell 8.2% on Tuesday . The stock traded as low as $23.78 and last traded at $23.98. 965,489 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,765,752 shares. The stock had previously closed at $26.13.

Analyst Ratings Changes

A number of brokerages recently weighed in on SATS. TD Cowen lowered their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Morgan Stanley raised their price target on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. StockNews.com upgraded EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.25.

EchoStar Price Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.32. The business has a 50 day moving average of $24.79 and a 200 day moving average of $20.53. The company has a market cap of $5.85 billion, a PE ratio of -2.35 and a beta of 0.70.

Institutional Investors Weigh In On EchoStar

Large investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its holdings in EchoStar by 263.3% in the first quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock worth $1,502,000 after buying an additional 76,407 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of EchoStar in the 1st quarter valued at approximately $300,000. Swiss National Bank lifted its stake in shares of EchoStar by 247.2% in the 1st quarter. Swiss National Bank now owns 235,025 shares of the communications equipment provider’s stock valued at $3,349,000 after purchasing an additional 167,325 shares during the period. Sei Investments Co. bought a new stake in shares of EchoStar during the first quarter valued at approximately $795,000. Finally, Inspire Investing LLC grew its stake in EchoStar by 10.6% in the first quarter. Inspire Investing LLC now owns 25,295 shares of the communications equipment provider’s stock worth $360,000 after purchasing an additional 2,431 shares during the period. Institutional investors own 33.62% of the company’s stock.

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.