William David Wade Sells 2,425 Shares of Echostar (NASDAQ:ECHO) Stock

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,425 shares of Echostar stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the sale, the director directly owned 324 shares in the company, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

William David Wade also recently made the following trade(s):

• On Wednesday, August 12th, William David Wade sold 2,575 shares of Echostar stock. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75.

Echostar Trading Up 0.2%

Shares of NASDAQ ECHO opened at $91.89 on Friday. The stock has a market capitalization of $26.69 billion, a PE ratio of -3.69 and a beta of 1.03. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar CORP has a 52 week low of $26.52 and a 52 week high of $147.25.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $3.67 billion during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. Analysts anticipate that Echostar CORP will post -1.35 EPS for the current fiscal year.

Analyst Ratings Changes

ECHO has been the topic of a number of research reports. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. New Street Research set a $165.00 price target on Echostar in a research report on Monday, June 15th. TD Cowen cut their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Echostar in the fourth quarter valued at $26,000. SOA Wealth Advisors LLC. acquired a new position in Echostar during the 1st quarter worth about $34,000. Pittenger & Anderson Inc. acquired a new position in Echostar during the 2nd quarter worth about $38,000. NewEdge Advisors LLC boosted its holdings in Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Echostar during the 3rd quarter valued at about $38,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.