TD Cowen Lowers EchoStar (NASDAQ:SATS) Price Target to $30.00

EchoStar (NASDAQ:SATS) had its price target reduced by equities research analysts at TD Cowen from $37.00 to $30.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. TD Cowen’s target price indicates a potential upside of 32.74% from the company’s current price.

SATS has been the subject of a number of other reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. Morgan Stanley increased their price objective on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday. Finally, UBS Group upped their target price on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.25.

EchoStar Price Performance

Shares of EchoStar stock traded down $0.16 during midday trading on Wednesday, hitting $22.60. 1,379,577 shares of the company traded hands, compared to its average volume of 1,781,507. The firm’s fifty day moving average price is $24.73 and its 200-day moving average price is $20.53. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -2.47 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.32 and a current ratio of 0.67. EchoStar has a 12 month low of $9.53 and a 12 month high of $30.08.

Institutional Trading of EchoStar

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in EchoStar during the 3rd quarter worth approximately $383,000. Citigroup Inc. grew its position in shares of EchoStar by 32.7% during the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after purchasing an additional 40,533 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of EchoStar in the third quarter worth $651,000. Natixis Advisors LLC raised its position in shares of EchoStar by 9.8% in the third quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock worth $541,000 after buying an additional 1,942 shares in the last quarter. Finally, Empowered Funds LLC grew its position in EchoStar by 5.4% during the third quarter. Empowered Funds LLC now owns 324,416 shares of the communications equipment provider’s stock worth $8,052,000 after buying an additional 16,595 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.