Uncovering Institutional Buying In EchoStar Corp (NASDAQ: SATS)

Currently, there are 140.15M common shares owned by the public and among those 119.99M shares have been available to trade.

The company’s stock has a 5-day price change of -5.16% and 40.15% over the past three months. SATS shares are trading 49.79% year to date (YTD), with the 12-month market performance up to 46.52% higher. It has a 12-month low price of $9.53 and touched a high of $30.08 over the same period. SATS has an average intraday trading volume of 1.32 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.10%, 19.59%, and 47.65% respectively.

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Institutional ownership of EchoStar Corp (NASDAQ: SATS) shares accounts for 42.66% of the company’s 140.15M shares outstanding.

It has a market capitalization of $6.74B and a beta (3y monthly) value of 0.71. The earnings-per-share (ttm) stands at -$7.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.56% over the week and 7.38% over the month.

Earnings per share for the fiscal year are expected to increase by 70.03%, and -24.75% over the next financial year.

Looking at the support for the SATS, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on August 12, 2024, with the firm’s price target at $12. JP Morgan coverage for the EchoStar Corp (SATS) stock in a research note released on January 17, 2024 offered a Neutral rating with a price target of $18. Raymond James was of a view on August 07, 2023 that the stock is Strong Buy, while Raymond James gave the stock Outperform rating on November 04, 2022, issuing a price target of $57- $27. Citigroup on their part issued Neutral rating on October 04, 2019.

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