StockNews.com Initiates Coverage on EchoStar (NASDAQ:SATS)

StockNews.com began coverage on shares of EchoStar (NASDAQ:SATSFree Report) in a research note released on Friday. The brokerage issued a buy rating on the communications equipment provider’s stock.

Several other equities research analysts have also weighed in on the company. Raymond James cut their target price on EchoStar from $54.00 to $37.00 and set a strong-buy rating on the stock in a research report on Tuesday, November 7th. JPMorgan Chase & Co. began coverage on EchoStar in a research report on Wednesday, January 17th. They set a neutral rating and a $18.00 target price on the stock. TheStreet lowered EchoStar from a c rating to a d+ rating in a research report on Monday, November 6th. Finally, Citigroup cut their target price on EchoStar from $25.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, October 16th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $24.00.

Get Our Latest Stock Report on EchoStar

EchoStar Price Performance

SATS stock opened at $13.00 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.23 and a quick ratio of 6.23. The firm has a market capitalization of $1.09 billion, a P/E ratio of 11.71 and a beta of 0.68. The business’s 50-day moving average is $14.18 and its two-hundred day moving average is $15.20. EchoStar has a 1 year low of $9.53 and a 1 year high of $24.80.

Insiders Place Their Bets

In other EchoStar news, Director C Mike Schroeder sold 3,020 shares of EchoStar stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $12.29, for a total transaction of $37,115.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 59.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SATS. Beryl Capital Management LLC purchased a new position in shares of EchoStar in the 3rd quarter valued at approximately $36,090,000. Principal Financial Group Inc. grew its stake in shares of EchoStar by 4,541.5% in the 4th quarter. Principal Financial Group Inc. now owns 639,094 shares of the communications equipment provider’s stock valued at $10,590,000 after purchasing an additional 625,325 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of EchoStar in the 3rd quarter valued at approximately $10,155,000. BlackRock Inc. grew its stake in shares of EchoStar by 13.6% in the 2nd quarter. BlackRock Inc. now owns 4,444,060 shares of the communications equipment provider’s stock valued at $77,060,000 after purchasing an additional 531,537 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of EchoStar by 53.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,095,327 shares of the communications equipment provider’s stock valued at $18,150,000 after buying an additional 383,030 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

About EchoStar

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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.

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