Morgan Stanley Initiates Coverage on EchoStar (NASDAQ:SATS)

Equities research analysts at Morgan Stanley assumed coverage on shares of EchoStar (NASDAQ:SATS) in a report issued on Monday. The firm set an “equal weight” rating and a $25.00 price target on the communications equipment provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 8.53% from the company’s previous close.

Several other analysts also recently commented on the stock. TD Cowen reduced their price target 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. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research note on Saturday, November 9th. Finally, Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Two equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.50.

EchoStar Trading Down 3.0 %

SATS opened at $23.04 on Monday. 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 has a 52 week low of $11.83 and a 52 week high of $30.08. The business’s 50 day moving average is $24.56 and its two-hundred day moving average is $21.64. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of -2.51 and a beta of 0.69.

Insider Buying and Selling at EchoStar

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was acquired 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 in the company, valued at approximately $43,499,994.20. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 55.90% of the stock is currently owned by corporate insiders.

Institutional Trading of EchoStar

A number of institutional investors have recently modified their holdings of SATS. GAMMA Investing LLC lifted its holdings in EchoStar by 54.7% in the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 789 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of 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 shares of EchoStar in the 2nd quarter valued at about $89,000. SG Americas Securities LLC acquired a new stake in shares of EchoStar in the third quarter valued at about $165,000. Finally, XTX Topco Ltd purchased a new stake in EchoStar during the second quarter worth about $183,000. 33.62% of the stock is currently owned by hedge funds and other 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.