EchoStar Corporation (NASDAQ:SATS) Short Interest Update
EchoStar Corporation (NASDAQ:SATS) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 698,582 shares, a decrease of 23.2% from the July 14th total of 909,914 shares. Based on an average daily trading volume, of 106,695 shares, the short-interest ratio is currently 6.5 days. Currently, 1.5% of the company’s stock are short sold.
A number of analysts have weighed in on the company. BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded EchoStar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.33.
In other EchoStar Corporation news, insider Pradman P. Kaul sold 14,999 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $58.25, for a total transaction of $873,691.75. Following the completion of the sale, the insider now owns 4,999 shares in the company, valued at $291,191.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael T. Dugan sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $62.24, for a total value of $311,200.00. Following the sale, the chief executive officer now owns 30,146 shares of the company’s stock, valued at approximately $1,876,287.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,862 shares of company stock valued at $3,598,258. 73.54% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in shares of EchoStar Corporation by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 47,650 shares of the communications equipment provider’s stock worth $2,449,000 after buying an additional 2,074 shares during the period. James Investment Research Inc. bought a new stake in shares of EchoStar Corporation during the first quarter worth $145,000. Acadian Asset Management LLC boosted its stake in shares of EchoStar Corporation by 43,500.6% in the first quarter. Acadian Asset Management LLC now owns 68,889 shares of the communications equipment provider’s stock worth $3,924,000 after buying an additional 68,731 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of EchoStar Corporation by 42.8% in the first quarter. Russell Investments Group Ltd. now owns 17,968 shares of the communications equipment provider’s stock worth $1,023,000 after buying an additional 5,383 shares during the period. Finally, Mad River Investors boosted its stake in shares of EchoStar Corporation by 12.0% in the first quarter. Mad River Investors now owns 55,450 shares of the communications equipment provider’s stock worth $3,158,000 after buying an additional 5,950 shares during the period. 44.65% of the stock is owned by hedge funds and other institutional investors.
Shares of EchoStar Corporation (SATS) opened at 56.80 on Monday. EchoStar Corporation has a one year low of $36.59 and a one year high of $62.50. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 45.12 and a beta of 0.70. The stock’s 50 day moving average price is $60.27 and its 200 day moving average price is $57.54.
EchoStar Corporation (NASDAQ:SATS) last announced its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.05. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same period last year, the firm earned $0.47 earnings per share. EchoStar Corporation’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that EchoStar Corporation will post $0.91 earnings per share for the current year.
About EchoStar Corporation
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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