Key Points
- EchoStar director William David Wade sold 2,425 shares at an average price of $91.48, worth $221,839, reducing his holdings by 88.21% to 324 shares. He also sold 2,575 shares the previous day for $238,573.75.
- EchoStar reported quarterly revenue of $3.67 billion and a loss of $0.51 per share, while analysts expect a full-year loss of $1.35 per share. The company has negative net margins and return on equity.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $132, although ratings range from Strong Buy to Sell. Institutional investors own 33.62% of the stock.
Echostar CORP (NASDAQ:ECHO - Get Free Report) Director William David Wade sold 2,425 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were 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 approximately $29,639.52. This represents a 88.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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 shares were sold at an average price of $92.65, for a total value of $238,573.75.
Echostar Stock Up 0.2%
NASDAQ:ECHO opened at $91.89 on Friday. 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 1-year low of $26.52 and a 1-year high of $147.25. The stock has a market capitalization of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03.
Echostar (NASDAQ:ECHO - Get Free Report) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The business had revenue of $3.67 billion for the quarter. As a group, analysts expect that Echostar CORP will post -1.35 EPS for the current fiscal year.
Institutional Trading of Echostar
Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Echostar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the company's stock valued at $672,000 after buying an additional 1,511 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Echostar by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company's stock worth $1,854,000 after buying an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Echostar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company's stock worth $8,479,000 after buying an additional 24,749 shares during the last quarter. Strs Ohio bought a new position in shares of Echostar during the 1st quarter worth approximately $128,000. Finally, Hsbc Holdings PLC raised its stake in shares of Echostar by 18.6% during the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the company's stock worth $377,000 after acquiring an additional 2,119 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. New Street Research set a $165.00 price objective on shares of Echostar in a report on Monday, June 15th. Citigroup reduced their price objective on shares of Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. TD Cowen lowered their target price on Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. Finally, Weiss Ratings initiated coverage on Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.00.
Check Out Our Latest Analysis on Echostar
About Echostar
(
Get Free Report)
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.
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