Echostar Co. (SATS) Short Interest Update
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.
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.
ILLEGAL ACTIVITY NOTICE: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.thecerbatgem.com/2018/01/19/echostar-co-sats-short-interest-update.html.
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.
Receive News & Ratings for Echostar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echostar and related companies with MarketBeat.com's FREE daily email newsletter.