Stock Traders Buy Large Volume of Echostar Call Options (NASDAQ:ECHO)

Echostar CORP (NASDAQ:ECHO) saw some unusual options trading on Thursday. Stock investors bought 41,268 call options on the stock. This is an increase of 134% compared to the average volume of 17,666 call options.

Echostar Stock Performance

Echostar stock traded down $5.34 during mid-day trading on Thursday, hitting $91.23. 3,465,235 shares of the company were exchanged, compared to its average volume of 7,316,396. Echostar has a 12-month low of $26.04 and a 12-month high of $147.25. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of -1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.

Echostar (NASDAQ:ECHO) last issued its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 97.56% and a negative return on equity of 4.80%.

Analyst Ratings Changes

ECHO has been the topic of several analyst reports. Weiss Ratings assumed coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Citigroup assumed coverage on shares of Echostar in a research report on Tuesday, July 7th. They issued a “buy” rating and a $126.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.50.

About Echostar

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.