6,860 Shares in EchoStar Corporation $SATS Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in EchoStar Corporation (NASDAQ:SATS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,860 shares of the communications equipment provider’s stock, valued at approximately $746,000.

Other hedge funds also recently bought and sold shares of the company. Bellwether Advisors LLC acquired a new position in EchoStar during the 4th quarter valued at about $3,593,000. Junto Capital Management LP acquired a new position in EchoStar during the 3rd quarter valued at about $55,199,000. Seven Grand Managers LLC acquired a new position in EchoStar during the 4th quarter valued at about $21,740,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in EchoStar during the 4th quarter valued at about $28,994,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in EchoStar during the 4th quarter valued at about $20,459,000. 33.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SATS shares. TD Cowen upped their target price on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group upped their target price on shares of EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $137.14.

EchoStar Stock Performance

Shares of NASDAQ:SATS opened at $116.28 on Friday. The company has a market capitalization of $33.70 billion, a price-to-earnings ratio of -2.32 and a beta of 0.94. The firm’s 50 day simple moving average is $125.72 and its 200 day simple moving average is $112.77. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $147.25.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same quarter in the prior year, the business earned ($0.71) earnings per share. As a group, sell-side analysts forecast that EchoStar Corporation will post -3.79 earnings per share for the current year.

EchoStar Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.