Echostar Co. (SATS) Short Interest Update

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

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Echostar in the third quarter valued at approximately $145,000. The Manufacturers Life Insurance Company boosted its position in Echostar by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 207 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Echostar by 390.3% during the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after purchasing an additional 2,732 shares during the period. Magnetar Financial LLC acquired a new position in shares of Echostar during the third quarter worth $204,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Echostar during the third quarter worth $263,000. Hedge funds and other institutional investors own 44.48% of the company’s stock.

Shares of Echostar (SATS) opened at $61.21 on Friday. Echostar has a 52-week low of $50.30 and a 52-week 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 firm has a market cap of $5,838.33, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79.

Echostar (NASDAQ:SATS) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.37. Echostar had a net margin of 5.55% and a return on equity of 2.85%. The firm had revenue of $481.20 million for the quarter, compared to analyst estimates of $477.33 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts expect that Echostar will post 0.97 EPS for the current fiscal year.

A number of brokerages recently issued reports on SATS. BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Jefferies Group set a $70.00 price objective on shares of Echostar and gave the company a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research report on Friday, November 10th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.33.

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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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