EchoStar (NASDAQ:SATS) Price Target Lowered to $30.00 at TD Cowen

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

Other analysts have also recently issued research reports about the company. Morgan Stanley increased their target price on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price target on shares of EchoStar in a research note on Monday, August 12th. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. Two 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.25.

EchoStar Stock Performance

NASDAQ:SATS opened at $22.79 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.32 and a debt-to-equity ratio of 1.11. EchoStar has a 12-month low of $9.53 and a 12-month high of $30.08. The stock has a 50-day moving average price of $24.79 and a 200 day moving average price of $20.59. The stock has a market capitalization of $6.19 billion, a P/E ratio of -2.49 and a beta of 0.70.

Insider Activity

In other EchoStar news, Chairman Charles W. Ergen purchased 1,551,355 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the purchase, the chairman now owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On EchoStar

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in EchoStar by 125.3% during the 2nd 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 increased its holdings in EchoStar by 694.8% during the 2nd 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 increased its holdings in EchoStar by 122.9% during the 2nd 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 2nd quarter worth $89,000. Finally, SG Americas Securities LLC purchased a new position in shares of EchoStar in the 3rd quarter valued at $165,000. 33.62% of the stock is 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.