EchoStar (NASDAQ:SATS) Hits New 52-Week High – Here’s Why

EchoStar Co. (NASDAQ:SATS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.15 and last traded at $30.12, with a volume of 601728 shares trading hands. The stock had previously closed at $29.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SATS shares. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research note on Saturday, November 9th. TD Cowen cut their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. UBS Group increased their price target on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on EchoStar in a report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.75.

EchoStar Stock Up 0.5 %

The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $25.60 and a 200-day simple moving average of $23.92. The firm has a market cap of $8.20 billion, a P/E ratio of -3.29 and a beta of 0.72.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in EchoStar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider’s stock valued at $314,594,000 after purchasing an additional 88,488 shares in the last quarter. Darsana Capital Partners LP lifted its stake in shares of EchoStar by 133.3% during the 4th quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider’s stock valued at $160,300,000 after buying an additional 4,000,000 shares in the last quarter. Diameter Capital Partners LP boosted its holdings in EchoStar by 523.7% in the 4th quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider’s stock worth $115,114,000 after buying an additional 4,220,853 shares during the period. State Street Corp increased its stake in EchoStar by 1.3% in the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock worth $118,546,000 after buying an additional 62,674 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in EchoStar by 1.0% during the fourth quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider’s stock valued at $68,518,000 after acquiring an additional 28,779 shares during the period. 33.62% of the stock is currently owned by institutional investors.

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.