EchoStar Co. (NASDAQ:SATS) Receives $20.50 Consensus Target Price from Brokerages

EchoStar Co. (NASDAQ:SATS) has earned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.50.

A number of equities analysts have issued reports on the stock. TD Cowen decreased their price objective on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley assumed coverage on EchoStar in a report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price objective for the company. Finally, StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th.

EchoStar Stock Down 0.7 %

SATS opened at $22.75 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. EchoStar has a 12 month low of $11.83 and a 12 month high of $30.08. The company has a market cap of $6.18 billion, a P/E ratio of -2.48 and a beta of 0.69. The business’s 50-day moving average price is $23.91 and its 200-day moving average price is $21.97.

Insiders Place Their Bets

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of EchoStar stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the transaction, the chairman now directly owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 55.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in EchoStar during the 3rd quarter valued at approximately $272,000. Y Intercept Hong Kong Ltd bought a new position in shares of EchoStar during the third quarter valued at $1,230,000. State Street Corp raised its position in shares of EchoStar by 1.3% in the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock worth $118,546,000 after purchasing an additional 62,674 shares during the last quarter. Stonehill Capital Management LLC bought a new position in EchoStar in the 3rd quarter worth about $9,235,000. Finally, Darsana Capital Partners LP grew its position in EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock valued at $74,460,000 after purchasing an additional 927,695 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

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.