Echostar (NASDAQ:SATS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Citigroup downgraded shares of Echostar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $44.00 in a report on Friday, October 4th. Zacks Investment Research upgraded shares of Echostar from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 9th. Raymond James reiterated a “strong-buy” rating and set a $61.00 price objective (down from $68.00) on shares of Echostar in a research note on Wednesday, September 11th. Finally, ValuEngine downgraded shares of Echostar from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.67.

Shares of NASDAQ SATS opened at $38.93 on Thursday. The company has a market cap of $3.91 billion, a PE ratio of 102.45 and a beta of 0.80. Echostar has a 12 month low of $27.29 and a 12 month high of $43.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.35 and a quick ratio of 6.17. The company has a 50-day simple moving average of $40.29 and a 200-day simple moving average of $41.49.

Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.20. Echostar had a negative net margin of 5.86% and a negative return on equity of 0.31%. The business had revenue of $472.26 million during the quarter, compared to the consensus estimate of $470.15 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts anticipate that Echostar will post -0.79 EPS for the current year.

In related news, insider Pradman P. Kaul sold 1,321 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $42.27, for a total value of $55,838.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael T. Dugan sold 22,348 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $41.53, for a total transaction of $928,112.44. Following the completion of the sale, the chief executive officer now directly owns 73,787 shares in the company, valued at $3,064,374.11. The disclosure for this sale can be found here. Corporate insiders own 52.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in Echostar by 1,583.8% in the third quarter. Millennium Management LLC now owns 273,834 shares of the communications equipment provider’s stock valued at $10,849,000 after acquiring an additional 257,571 shares in the last quarter. Man Group plc raised its holdings in Echostar by 34.2% in the third quarter. Man Group plc now owns 133,471 shares of the communications equipment provider’s stock valued at $5,287,000 after acquiring an additional 34,002 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Echostar by 85.0% in the third quarter. Public Employees Retirement System of Ohio now owns 17,613 shares of the communications equipment provider’s stock valued at $698,000 after acquiring an additional 8,094 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Echostar in the third quarter valued at $79,000. Finally, Penserra Capital Management LLC raised its holdings in Echostar by 49.6% in the third quarter. Penserra Capital Management LLC now owns 15,314 shares of the communications equipment provider’s stock valued at $606,000 after acquiring an additional 5,080 shares in the last quarter. 46.35% of the stock is currently owned by hedge funds and other institutional investors.

About Echostar

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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