EchoStar (NASDAQ:SATS) Price Target Cut to $30.00 by Analysts at TD Cowen

EchoStar (NASDAQ:SATS) had its price target trimmed by TD Cowen from $37.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

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

EchoStar Stock Down 5.4 %

SATS stock opened at $21.52 on Wednesday. The company’s 50 day simple moving average is $24.79 and its 200-day simple moving average is $20.53. The firm has a market capitalization of $5.85 billion, a PE ratio of -2.35 and a beta of 0.70. EchoStar has a 12 month low of $9.53 and a 12 month high of $30.08. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.32.

Institutional Trading of EchoStar

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake 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 during the period. Hexagon Capital Partners LLC raised its stake in EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the period. Nisa Investment Advisors LLC raised its stake in EchoStar by 122.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 2,315 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in EchoStar during the second quarter worth approximately $89,000. Finally, SG Americas Securities LLC purchased a new position in EchoStar during the third quarter worth approximately $165,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Company Profile

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.