The Vanguard Group, Inc. has recently announced that it has increased stake in EchoStar Corp (NASDAQ:SATS) by 0.99%. After grabbing 3.41 million shares, the institutional investor is now in possession of 33340.0 shares of the Technology Company. The new investment brought the stake of investor firm to 9.42% having worth around $35.72 million. Moreover, Beryl Capital Management LLC increased its share by 2.15 million to have a control over 2.15 million shares. And GoldenTree Asset Management LP raised its holdings to 2.08 million shares by acquiring 2.08 million shares or 5.75% of the stake.
EchoStar Corp (SATS) concluded trading on 01/10/24 at a closing price of $16.65, with 18.07 million shares of worth about $300.92 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -11.90% during that period and on Wednesday the price saw a gain of about 31.52%. Currently the company’s common shares owned by public are about 271.41M shares, out of which, 64.13M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the SATS stock and their offered price forecasts bring an average price target of $19.18. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $39.00 and could fall to a lowest price of $10.00. The stock’s current price level is 13.19% above of average price target set by the analysts, while a rise to estimated low would result in loss of -66.5% for the stock. However, touching the estimated high of $39.00 would mean a gain of 57.31% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 1 times over the past 12 months. They bought 100,000 shares in 1 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in EchoStar Corp Vanguard Total Stock Market ETF is currently holding 1.11 million shares of worth totaling $11.59 million. The company recently came buying 0.0 shares which brought its stake up to 3.06% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 2736.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 0.89 million shares with the mutual fund that have a worth of about $9.27 million. iShares Russell 2000 ETF, after buying 0.85 million shares, have now control over 2.34% of the stake in the company. It holds 417.0 shares of worth $8.86 million.
EchoStar Corp (NASDAQ: SATS) started trading at $12.85, above $0.19 from concluding price of the previous day. However, the stock later moved at a day high price of 17.90, or with a gain of 31.52%. Stock saw a price change of 16.27% in past 5 days and over the past one month there was a price change of 27.68%. Year-to-date (YTD), SATS shares are showing a performance of 0.48% which increased to 3.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.53 but also hit the highest price of $24.80 during that period. The average intraday trading volume for EchoStar Corp shares is 1.67 million. The stock is currently trading 19.78% above its 20-day simple moving average (SMA20), while that difference is up 34.32% for SMA50 and it goes to 2.94% higher than SMA200.
The Vanguard Group, Inc. acquired 3.41 million shares of EchoStar Corp having value of about $35.72 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 33340.0 shares in the company valued at close to $555111.0, or have control over 0.99% stake in the company. EchoStar Corp (NASDAQ: SATS) currently have 271.41M outstanding shares and institutions hold larger chunk of about 11.94% of that. Holding of mutual funds in the company is about 48.77% while other institutional holders and individual stake holders have control over 6.91% and 40.87% of the stake respectively.
The stock has a current market capitalization of $4.52B and its 3Y-monthly beta is at 0.72. PE ratio of stock for trailing 12 months is 14.93, while it has posted earnings per share of $1.12 in the same period. Its PEG reads 2.99 and has Quick Ratio of 5.81 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SATS, volatility over the week remained 15.39% while standing at 8.69% over the month.
Analysts are in expectations that EchoStar Corp (SATS) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is $0.26 and it is -$0.21 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.32 which is -$0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -73.20% while it is estimated to decrease by -90.47% in next year. EPS is likely to grow at an annualized rate of 5.00% for next 5-years, compared to annual growth of -12.36% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the EchoStar Corp (SATS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.14. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on August 07, 2023 offering a Strong buy rating for the stock and assigned a target price of $28 to it.
