Echostar (NASDAQ:ECHO) Director William David Wade Sells 2,425 Shares

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,425 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the sale, the director directly owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

William David Wade also recently made the following trade(s):

• On Wednesday, August 12th, William David Wade sold 2,575 shares of Echostar stock. The shares were sold at an average price of $92.65, for a total value of $238,573.75.

Echostar Stock Performance

NASDAQ:ECHO opened at $91.89 on Friday. Echostar CORP has a fifty-two week low of $26.52 and a fifty-two week high of $147.25. The firm has a market cap of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20.

Echostar (NASDAQ:ECHO) last released its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. As a group, equities analysts predict that Echostar CORP will post -1.35 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on ECHO shares. New Street Research set a $165.00 target price on Echostar in a research report on Monday, June 15th. Weiss Ratings started coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Citigroup decreased their price target on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Williams Trading set a $155.00 price objective on Echostar in a report on Monday, May 18th. Finally, Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Echostar currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Institutional Investors Weigh In On Echostar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in Echostar in the 4th quarter valued at about $26,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Echostar in the first quarter valued at approximately $34,000. Pittenger & Anderson Inc. purchased a new stake in shares of Echostar in the second quarter valued at approximately $38,000. NewEdge Advisors LLC grew its stake in Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Echostar in the third quarter worth approximately $38,000. Institutional investors own 33.62% of the company’s stock.

Echostar Company Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.