EchoStar (NASDAQ:SATS) Shares Gap Down on Analyst Downgrade

Shares of EchoStar Co. (NASDAQ:SATS) gapped down prior to trading on Thursday after TD Cowen lowered their price target on the stock from $37.00 to $30.00. The stock had previously closed at $21.52, but opened at $21.03. TD Cowen currently has a buy rating on the stock. EchoStar shares last traded at $21.77, with a volume of 201,604 shares changing hands.

SATS has been the subject of several other reports. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. Morgan Stanley increased their price target on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and an average target price of $19.25.

Institutional Investors Weigh In On EchoStar

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 2,315 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in EchoStar during the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC acquired a new position in EchoStar during the third quarter worth about $165,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Up 1.2 %

The firm’s fifty day simple moving average is $24.79 and its 200-day simple moving average is $20.53. The company has a market cap of $5.91 billion, a PE ratio of -2.35 and a beta of 0.70. The company has a quick ratio of 0.32, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.