Echostar (NASDAQ:ECHO) Shares Break Above 50 Day Moving Average – Time to Sell?

Echostar CORP (NASDAQ:ECHO)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $92.00 and traded as high as $95.45. Echostar shares last traded at $94.62, with a volume of 4,398,858 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ECHO. JPMorgan Chase & Co. assumed coverage on Echostar in a research report on Friday, October 16th. They set an “overweight” rating and a $144.00 price target on the stock. UBS Group increased their price objective on Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Research upgraded Echostar from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Finally, Citigroup lowered their target price on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $139.44.

Echostar Trading Up 5.2%

The company has a current ratio of 10.16, a quick ratio of 5.12 and a debt-to-equity ratio of 0.57. The company has a market cap of $27.49 billion, a P/E ratio of 3.45 and a beta of 1.06. The business has a 50-day moving average of $92.00.

Echostar (NASDAQ:ECHO) last issued its earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $4.90. Echostar had a net margin of 81.29% and a return on equity of 22.85%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $3.00 million. On average, research analysts predict that Echostar CORP will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Echostar

In other Echostar news, Director William Wade sold 2,425 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Echostar

Several institutional investors have recently made changes to their positions in ECHO. Fortitude Family Office LLC acquired a new position in Echostar in the third quarter worth approximately $25,000. Strive Financial Group LLC acquired a new stake in Echostar in the second quarter valued at approximately $28,000. SOA Wealth Advisors LLC. bought a new stake in Echostar in the first quarter worth approximately $34,000. Pittenger & Anderson Inc. bought a new stake in Echostar in the second quarter worth approximately $38,000. Finally, NewEdge Advisors LLC grew its position in Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

About Echostar

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.

The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.

Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.