Echostar Co. (SATS) Sees Significant Decrease in Short Interest

Echostar Co. (NASDAQ:SATS) was the recipient of a significant decline in short interest during the month of December. As of December 29th, there was short interest totalling 292,540 shares, a decline of 49.3% from the December 15th total of 576,632 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 103,015 shares, the days-to-cover ratio is presently 2.8 days.

Shares of Echostar (NASDAQ SATS) opened at $60.99 on Wednesday. Echostar has a twelve month low of $49.82 and a twelve month high of $62.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. The stock has a market capitalization of $5,840.00, a PE ratio of 52.13, a PEG ratio of 3.22 and a beta of 0.78.

Echostar (NASDAQ:SATS) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.37. Echostar had a return on equity of 2.85% and a net margin of 5.55%. The firm had revenue of $481.20 million for the quarter, compared to analysts’ expectations of $477.33 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. research analysts anticipate that Echostar will post 0.97 EPS for the current fiscal year.

SATS has been the topic of several research reports. Zacks Investment Research raised Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Friday, November 10th. Jefferies Group set a $70.00 target price on Echostar and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub raised Echostar from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Echostar presently has an average rating of “Buy” and an average target price of $68.33.

A number of hedge funds and other institutional investors have recently modified their holdings of SATS. Schwab Charles Investment Management Inc. increased its stake in Echostar by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 223,807 shares of the communications equipment provider’s stock worth $13,586,000 after acquiring an additional 12,061 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Echostar by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 252,875 shares of the communications equipment provider’s stock worth $15,349,000 after acquiring an additional 2,516 shares during the last quarter. Prudential Financial Inc. bought a new stake in Echostar during the second quarter worth approximately $1,503,000. Swiss National Bank increased its stake in Echostar by 2.0% during the second quarter. Swiss National Bank now owns 78,200 shares of the communications equipment provider’s stock worth $4,747,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Echostar by 0.9% during the second quarter. Wells Fargo & Company MN now owns 128,403 shares of the communications equipment provider’s stock worth $7,794,000 after acquiring an additional 1,100 shares during the last quarter. 44.48% of the stock is currently owned by institutional investors.

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Echostar Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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