StockNews.com Lowers EchoStar (NASDAQ:SATS) to Hold

EchoStar (NASDAQ:SATS – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Raymond James raised their target price on shares of EchoStar from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 24th.

EchoStar Stock Performance

NASDAQ:SATS opened at $20.31 on Wednesday. The company has a current ratio of 5.03, a quick ratio of 5.02 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $17.85 and a two-hundred day moving average price of $17.68. EchoStar has a twelve month low of $15.26 and a twelve month high of $25.64. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.76 and a beta of 0.75.

Institutional Investors Weigh In On EchoStar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp purchased a new stake in shares of EchoStar during the fourth quarter worth about $478,000. Salem Investment Counselors Inc. grew its holdings in shares of EchoStar by 103.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 23,360 shares of the communications equipment provider’s stock worth $390,000 after buying an additional 11,890 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of EchoStar by 180.0% during the fourth quarter. Jane Street Group LLC now owns 66,234 shares of the communications equipment provider’s stock worth $1,105,000 after buying an additional 42,577 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of EchoStar by 87.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 46,400 shares of the communications equipment provider’s stock worth $774,000 after buying an additional 21,606 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of EchoStar by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 127,494 shares of the communications equipment provider’s stock worth $2,127,000 after buying an additional 39,969 shares in the last quarter. 39.06% of the stock is currently owned by hedge funds and other institutional investors.

EchoStar Company Profile

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EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services (ESS). The Hughes segment provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers.