EchoStar (NASDAQ:SATS) Hits New 1-Year High – Should You Buy?

EchoStar Co. (NASDAQ:SATS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.15 and last traded at $30.12, with a volume of 601728 shares changing hands. The stock had previously closed at $29.26.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SATS shares. StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday, November 9th. Morgan Stanley assumed coverage on shares of EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. UBS Group lifted their price objective on shares of EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, TD Cowen decreased their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, EchoStar currently has a consensus rating of “Hold” and an average price target of $23.75.

EchoStar Price Performance

The company has a market capitalization of $8.19 billion, a P/E ratio of -3.29 and a beta of 0.72. The business’s 50-day moving average is $25.33 and its two-hundred day moving average is $23.81. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Hedge Funds Weigh In On EchoStar

Several hedge funds have recently modified their holdings of SATS. Vanguard Group Inc. increased its position in shares of EchoStar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider’s stock valued at $314,594,000 after acquiring an additional 88,488 shares during the last quarter. Darsana Capital Partners LP grew its stake in EchoStar by 133.3% in the 4th quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider’s stock valued at $160,300,000 after purchasing an additional 4,000,000 shares during the period. Diameter Capital Partners LP increased its position in shares of EchoStar by 523.7% during the 4th quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider’s stock valued at $115,114,000 after purchasing an additional 4,220,853 shares during the last quarter. State Street Corp raised its stake in shares of EchoStar by 1.3% during 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 period. Finally, American Century Companies Inc. boosted its holdings in shares of EchoStar by 1.0% in the 4th quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider’s stock worth $68,518,000 after buying an additional 28,779 shares during the last quarter. 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.