EchoStar (NASDAQ:SATS) Trading Up 7%

EchoStar Co. (NASDAQ:SATS)’s share price was up 7% during mid-day trading on Thursday . The company traded as high as $19.22 and last traded at $19.21. Approximately 111,428 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 316,990 shares. The stock had previously closed at $17.95.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com assumed coverage on EchoStar in a report on Sunday, September 10th. They issued a “buy” rating for the company. Raymond James increased their target price on shares of EchoStar from $28.00 to $54.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 9th.

EchoStar Price Performance

The business has a fifty day moving average price of $19.24 and a 200 day moving average price of $18.04. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.02 and a quick ratio of 6.02.

EchoStar (NASDAQ:SATS) last issued its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.16. EchoStar had a return on equity of 3.78% and a net margin of 5.92%. The business had revenue of $453.11 million for the quarter, compared to analysts’ expectations of $451.90 million. On average, research analysts expect that EchoStar Co. will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC raised its stake in shares of EchoStar by 26.9% during the 1st quarter. MetLife Investment Management LLC now owns 18,851 shares of the communications equipment provider’s stock worth $459,000 after purchasing an additional 3,998 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in EchoStar by 43.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,969 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 9,655 shares during the last quarter. BlackRock Inc. raised its position in EchoStar by 3.0% during the first quarter. BlackRock Inc. now owns 3,193,659 shares of the communications equipment provider’s stock valued at $77,734,000 after acquiring an additional 93,524 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in EchoStar by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,688,661 shares of the communications equipment provider’s stock valued at $41,102,000 after acquiring an additional 63,135 shares during the last quarter. Finally, Covestor Ltd grew its position in EchoStar by 2,809.6% in the first quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock worth $133,000 after acquiring an additional 5,282 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.