EchoStar (NASDAQ:SATS) Sets New 1-Year High – Should You Buy?

Shares of EchoStar Corporation (NASDAQ:SATS) reached a new 52-week high during trading on Thursday . The stock traded as high as $132.17 and last traded at $131.09, with a volume of 13004319 shares changing hands. The stock had previously closed at $123.74.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Cowen reissued a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. UBS Group raised their price target on EchoStar from $28.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. TD Cowen boosted their price objective on EchoStar from $100.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, EchoStar has a consensus rating of “Hold” and a consensus price target of $132.17.

EchoStar Price Performance

The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61. The business has a 50-day simple moving average of $94.54 and a 200 day simple moving average of $68.08. The firm has a market cap of $35.49 billion, a P/E ratio of -2.75 and a beta of 1.02.

EchoStar (NASDAQ:SATS) last posted its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative net margin of 85.36% and a positive return on equity of 0.39%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm posted ($0.52) earnings per share. EchoStar’s quarterly revenue was down 7.1% on a year-over-year basis. On average, analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at EchoStar

In related news, CEO Hamid Akhavan sold 285,832 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the transaction, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at $39,688,870.65. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Swieringa sold 22,000 shares of EchoStar stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $67.34, for a total value of $1,481,480.00. Following the sale, the chief operating officer directly owned 283,509 shares in the company, valued at approximately $19,091,496.06. The trade was a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in EchoStar in the third quarter worth $28,000. CoreCap Advisors LLC bought a new stake in shares of EchoStar during the 4th quarter valued at $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of EchoStar in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar in the 3rd quarter worth about $38,000. Finally, Bessemer Group Inc. lifted its position in EchoStar by 79.1% during the 3rd quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock valued at $64,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

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.