EchoStar (NASDAQ:SATS) Shares Gap Up – Here’s Why

EchoStar Corporation (NASDAQ:SATS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $16.84, but opened at $24.27. EchoStar shares last traded at $24.74, with a volume of 3,862,034 shares.

EchoStar Stock Down 2.9%

The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -32.51 and a beta of 0.74. The firm has a fifty day moving average price of $21.16 and a 200-day moving average price of $24.23. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.19. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. EchoStar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.40) EPS. As a group, sell-side analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

Institutional Trading of EchoStar

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in shares of EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 975 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in EchoStar by 251.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 1,151 shares in the last quarter. Fifth Third Bancorp lifted its position in EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 567 shares in the last quarter. State of Wyoming purchased a new position in EchoStar in the 4th quarter worth approximately $47,000. Finally, GAMMA Investing LLC grew its position 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 in 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.