Echostar (NASDAQ:ECHO) Stock: Insider William Wall Purchases 1,000 Shares

Echostar CORP (NASDAQ:ECHO) Director William Wall purchased 1,000 shares of Echostar stock in a transaction dated Thursday, November 5th. The stock was bought at an average cost of $90.41 per share, with a total value of $90,410.00. Following the completion of the transaction, the director directly owned 3,500 shares of the company’s stock, valued at $316,435. This represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Echostar Stock Performance

ECHO stock opened at $104.16 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 10.08 and a current ratio of 10.16. The firm has a market capitalization of $30.26 billion, a PE ratio of 14.88 and a beta of 1.06. The stock’s 50 day moving average is $92.65. Echostar CORP has a 52 week low of $65.76 and a 52 week high of $147.25.

Echostar (NASDAQ:ECHO) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating the consensus estimate of $3.07 by $4.90. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Echostar had a net margin of 81.29% and a return on equity of 22.85%. Sell-side analysts predict that Echostar CORP will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ECHO shares. Morgan Stanley cut their price objective on Echostar from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. TD Cowen dropped their target price on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Citigroup reduced their price target on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Zacks Research upgraded Echostar from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Finally, UBS Group raised their price objective on shares of Echostar from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $139.44.

Institutional Investors Weigh In On Echostar

Institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Wealth Management LLC acquired a new position in Echostar during the second quarter worth $334,950,000. Tidal Investments LLC bought a new position in Echostar during the second quarter valued at about $159,344,000. Tema ETFs LLC lifted its position in shares of Echostar by 83,917.0% in the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after buying an additional 1,537,359 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Echostar in the second quarter worth about $139,004,000. Finally, Bank of America Corp DE lifted its position in shares of Echostar by 42.4% in the first quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock worth $125,183,000 after buying an additional 318,248 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Company Profile

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services. The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.