Echostar Co. (NASDAQ:SATS) saw a significant decline in short interest in the month of December. As of December 29th, there was short interest totalling 292,540 shares, a decline of 49.3% from the December 15th total of 576,632 shares. Based on an average daily volume of 103,015 shares, the short-interest ratio is presently 2.8 days. Currently, 0.6% of the company’s shares are short sold.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Echostar by 11.1% in the second quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock valued at $182,177,000 after buying an additional 299,543 shares during the period. Renaissance Technologies LLC lifted its holdings in Echostar by 4.1% in the second quarter. Renaissance Technologies LLC now owns 2,861,780 shares of the communications equipment provider’s stock valued at $173,710,000 after buying an additional 113,700 shares during the period. Thornburg Investment Management Inc. lifted its holdings in Echostar by 21.0% in the third quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock valued at $115,856,000 after buying an additional 350,961 shares during the period. BlackRock Inc. lifted its holdings in Echostar by 2.7% in the second quarter. BlackRock Inc. now owns 1,981,989 shares of the communications equipment provider’s stock valued at $120,307,000 after buying an additional 52,406 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Echostar by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,315,246 shares of the communications equipment provider’s stock valued at $79,837,000 after buying an additional 39,102 shares during the period. Institutional investors and hedge funds own 44.48% of the company’s stock.

Echostar (NASDAQ SATS) opened at $61.21 on Friday. The company has a market cap of $5,838.33, a price-to-earnings ratio of 49.36, a PEG ratio of 3.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 8.40 and a current ratio of 8.61. Echostar has a fifty-two week low of $50.30 and a fifty-two week high of $62.50.

Echostar (NASDAQ:SATS) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.37. The business had revenue of $481.20 million for the quarter, compared to analyst estimates of $477.33 million. Echostar had a net margin of 5.55% and a return on equity of 2.85%. Echostar’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. research analysts forecast that Echostar will post 0.97 EPS for the current year.

A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of Echostar from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Jefferies Group set a $70.00 price target on shares of Echostar and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.33.

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Echostar Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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