Echostar CORP $ECHO Stock: Evergreen Capital Management LLC Lowers Stake

Evergreen Capital Management LLC reduced its position in shares of Echostar CORP (NASDAQ:ECHO) by 8.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 760,316 shares of the company’s stock after selling 71,316 shares during the quarter. Echostar makes up about 1.2% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Evergreen Capital Management LLC’s holdings in Echostar were worth $67,980,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ECHO. Fortitude Family Office LLC acquired a new position in Echostar in the third quarter worth $25,000. Strive Financial Group LLC acquired a new stake in shares of Echostar during the second quarter worth $28,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Echostar during the first quarter worth $34,000. NewEdge Advisors LLC lifted its position in shares of Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Echostar in the 1st quarter worth about $39,000. 33.62% of the stock is currently owned by institutional investors.

Echostar Stock Performance

ECHO stock opened at $89.08 on Friday. Echostar CORP has a 1 year low of $65.76 and a 1 year high of $147.25. The company has a market capitalization of $25.88 billion, a PE ratio of -3.57 and a beta of 0.99. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The company has a fifty day moving average of $90.53.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Monday, August 3rd. The company reported $24.12 EPS for the quarter, topping the consensus estimate of ($0.02) by $24.14. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm earned ($1.06) earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that Echostar CORP will post -0.27 EPS for the current fiscal year.

Insider Transactions at Echostar

In other news, Director Stephen J. Bye sold 8,508 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the transaction, the director owned 653 shares of the company’s stock, valued at approximately $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William Wade sold 2,575 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the transaction, the director owned 2,749 shares in the company, valued at $254,694.85. This represents a 48.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,508 shares of company stock valued at $1,224,686 over the last three months. 54.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ECHO shares. TD Cowen decreased their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Zacks Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Morgan Stanley restated an “overweight” rating and issued a $134.00 target price on shares of Echostar in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $138.56.

Echostar Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.