EchoStar Target of Unusually High Options Trading (NASDAQ:SATS)

EchoStar Co. (NASDAQ:SATSGet Free Report) saw unusually large options trading on Wednesday. Investors bought 11,918 call options on the company. This is an increase of approximately 219% compared to the average daily volume of 3,740 call options.

EchoStar Stock Performance

Shares of SATS stock opened at $16.20 on Thursday. The stock has a fifty day moving average of $21.91 and a 200 day moving average of $24.55. EchoStar has a 52 week low of $14.79 and a 52 week high of $32.48. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -1.77 and a beta of 0.83. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

EchoStar (NASDAQ:SATSGet Free Report) last announced its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm posted ($0.40) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that EchoStar will post -1.99 earnings per share for the current year.

Institutional Trading of EchoStar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC lifted its stake in EchoStar by 374.7% in the first quarter. Inspire Investing LLC now owns 83,540 shares of the communications equipment provider’s stock worth $2,137,000 after acquiring an additional 65,941 shares during the period. Rhumbline Advisers lifted its position in EchoStar by 4.7% during the first quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider’s stock valued at $10,027,000 after buying an additional 17,448 shares during the period. Strs Ohio purchased a new position in EchoStar during the first quarter valued at $128,000. Intech Investment Management LLC lifted its position in EchoStar by 49.1% during the first quarter. Intech Investment Management LLC now owns 115,835 shares of the communications equipment provider’s stock valued at $2,963,000 after buying an additional 38,131 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in EchoStar by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock valued at $8,479,000 after buying an additional 24,749 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About EchoStar

(Get Free Report)

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.

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