EchoStar Corporation (NASDAQ:SATS – Get Free Report)’s share price traded up 10.1% during trading on Wednesday . The company traded as high as $122.65 and last traded at $121.9930. 3,883,027 shares changed hands during trading, a decline of 37% from the average session volume of 6,176,799 shares. The stock had previously closed at $110.84.
Trending Headlines about EchoStar
Here are the key news stories impacting EchoStar this week:
- Positive Sentiment: Inclusion in the S&P 500 creates structural demand from index funds and ETFs as they rebalance, supporting buying pressure for SATS. S&P 500 Rebalancing: 3 Key AI Stocks Earn Their Spot in the Index (SATS)
- Positive Sentiment: High short interest (reported ~21.5% of float) combined with S&P inclusion raises the possibility of a short squeeze if buying accelerates. Here’s What May Trigger a Short Squeeze for New S&P 500 Member EchoStar
- Positive Sentiment: Widespread reports that SpaceX may file for an IPO have lifted satellite and space-infrastructure names, providing sector tailwinds that helped push SATS higher earlier in the week. SpaceX could soon file for an IPO. Why EchoStar and other space stocks are rising.
- Positive Sentiment: Unusual options activity showed large call buying (over 25k calls), signaling bullish positioning by some traders that can amplify short-term upside. (Options volume reported 3/25)
- Positive Sentiment: Technical strength: shares recently cleared the 50-day moving average amid the SpaceX/IPO-driven rally, which some momentum traders view as a buy signal. EchoStar Stock Just Broke Above Its 50-Day Moving Average on SpaceX IPO Hype.
- Neutral Sentiment: Analyst/estimate momentum: recent coverage noted a large one-day gain and some upward earnings-estimate revisions, which could sustain strength but are not a guarantee. EchoStar (SATS) Moves 7.4% Higher: Will This Strength Last?
- Negative Sentiment: Some analysts and commentary warn the SpaceX-related upside may be largely priced in already, reducing the scope for further immediate gains and increasing the risk of profit-taking. EchoStar: The SpaceX Deal May Already Be Priced In
Analyst Ratings Changes
Several research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, January 21st. Williams Trading set a $158.00 price objective on shares of EchoStar in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. TD Cowen restated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Finally, UBS Group upped their target price on shares of EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $134.17.
EchoStar Stock Performance
The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.38. The business has a 50-day simple moving average of $114.00 and a 200 day simple moving average of $94.87. The firm has a market cap of $32.18 billion, a PE ratio of -2.21 and a beta of 1.01.
Insider Buying and Selling
In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the transaction, the chief executive officer directly owned 823,293 shares in the company, valued at $88,520,463.36. This represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the sale, the chief operating officer owned 253,535 shares in the company, valued at $28,796,505.30. The trade was a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 55.90% of the company’s stock.
Institutional Investors Weigh In On EchoStar
Institutional investors and hedge funds have recently bought and sold shares of the business. Junto Capital Management LP purchased a new position in EchoStar during the third quarter valued at $55,199,000. SG Americas Securities LLC lifted its stake in EchoStar by 575.2% in the 3rd quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock worth $2,697,000 after purchasing an additional 30,090 shares in the last quarter. Phoenix Financial Ltd. purchased a new stake in EchoStar in the 3rd quarter worth $780,000. State of Wyoming bought a new position in shares of EchoStar during the 3rd quarter valued at about $1,508,000. Finally, Hennessy Advisors Inc. bought a new position in shares of EchoStar during the 3rd quarter valued at about $42,464,000. 33.62% of the stock is owned by institutional investors.
EchoStar Company Profile
EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.
In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.
Further Reading
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