Echostar CORP (NASDAQ:ECHO – Get Free Report) Director William Wall purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average cost of $90.41 per share, with a total value of $90,410.00. Following the completion of the acquisition, the director directly owned 3,500 shares of the company’s stock, valued at $316,435. This trade represents a 40.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Echostar Stock Up 6.9%
NASDAQ:ECHO opened at $101.19 on Tuesday. The company has a quick ratio of 5.12, a current ratio of 10.16 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average price is $92.29. Echostar CORP has a 1-year low of $65.76 and a 1-year high of $147.25.
Echostar (NASDAQ:ECHO – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $4.90. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $3.00 million. Echostar had a net margin of 81.29% and a return on equity of 22.85%. Analysts forecast that Echostar CORP will post -0.13 EPS for the current fiscal year.
Institutional Trading of Echostar
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new position in Echostar during the 2nd quarter worth $159,344,000. Tema ETFs LLC increased its stake in shares of Echostar by 83,917.0% during the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after buying an additional 1,537,359 shares during the period. Van ECK Associates Corp acquired a new stake in Echostar in the second quarter valued at approximately $139,004,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Echostar in the third quarter worth approximately $64,207,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Echostar in the 2nd quarter valued at approximately $48,405,000. Institutional investors and hedge funds own 33.62% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. UBS Group increased their target price on Echostar from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Citigroup decreased their price target on shares of Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, TD Cowen cut their price objective on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $139.44.
Read Our Latest Stock Analysis on ECHO
Echostar Company Profile
EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.
The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.
Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.
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