Prudential PLC purchased a new position in EchoStar Corporation (NASDAQ:SATS – Free Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,997 shares of the communications equipment provider’s stock, valued at approximately $652,000.
Several other hedge funds have also bought and sold shares of SATS. CoreCap Advisors LLC purchased a new stake in EchoStar in the 4th quarter worth $28,000. Rosenberg Matthew Hamilton purchased a new stake in EchoStar in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in EchoStar in the 3rd quarter worth $38,000. Tucker Asset Management LLC purchased a new stake in EchoStar in the 4th quarter worth $42,000. Finally, BOKF NA lifted its stake in EchoStar by 300.0% in the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.
EchoStar Stock Performance
EchoStar stock opened at $116.62 on Tuesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $147.25. The firm has a market capitalization of $33.80 billion, a P/E ratio of -2.33 and a beta of 0.94. The company’s 50-day moving average is $125.82 and its 200 day moving average is $113.43.
Wall Street Analyst Weigh In
Several analysts have commented on SATS shares. Williams Trading set a $155.00 price target on shares of EchoStar in a research note on Monday, May 18th. New Street Research started coverage on shares of EchoStar in a research report on Wednesday, May 13th. They set a “buy” rating and a $161.00 target price on the stock. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen increased their price objective on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, UBS Group increased their price objective on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and a consensus price target of $137.14.
Read Our Latest Research Report on EchoStar
EchoStar Profile
EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.
In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.
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