Shares of EchoStar Corp. (NASDAQ:SATS) traded down 1.9% during mid-day trading on Thursday . The stock traded as low as $37.25 and last traded at $37.46, with a volume of 89,460 shares traded. The stock had previously closed at $38.19.

Several analysts recently issued reports on the company. Zacks Investment Research lowered EchoStar Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 20th. Macquarie reiterated an “outperform” rating and set a $55.00 target price on shares of EchoStar Corp. in a report on Friday, July 8th. Finally, TheStreet lowered EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th.

The stock has a 50 day moving average of $38.60 and a 200-day moving average of $40.06. The company has a market cap of $3.46 billion and a price-to-earnings ratio of 19.12.

EchoStar Corp. (NASDAQ:SATS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.17. The business had revenue of $757.60 million for the quarter, compared to analyst estimates of $766.99 million. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts expect that EchoStar Corp. will post $1.75 EPS for the current fiscal year.

A hedge fund recently raised its stake in EchoStar Corp. stock. State of New Jersey Common Pension Fund D raised its position in EchoStar Corp. (NASDAQ:SATS) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 635,000 shares of the company’s stock after buying an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.69% of EchoStar Corp. worth $24,835,000 as of its most recent filing with the SEC.

EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.

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