Echostar Co. (SATS) Short Interest Update

Echostar Co. (NASDAQ:SATS) was the recipient of a large decline in short interest in 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. Based on an average trading volume of 103,015 shares, the short-interest ratio is currently 2.8 days. Approximately 0.6% of the company’s shares are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Echostar during the 4th quarter valued at $197,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Echostar by 7.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 256,095 shares of the communications equipment provider’s stock valued at $15,341,000 after acquiring an additional 18,667 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Echostar by 14.6% during the 3rd quarter. California Public Employees Retirement System now owns 107,083 shares of the communications equipment provider’s stock valued at $6,128,000 after acquiring an additional 13,683 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Echostar by 51.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,189 shares of the communications equipment provider’s stock worth $297,000 after buying an additional 1,757 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Echostar in the 3rd quarter worth $870,000. 44.48% of the stock is owned by institutional investors.

Shares of Echostar (NASDAQ SATS) opened at $61.78 on Friday. Echostar has a 12 month low of $50.30 and a 12 month high of $62.50. The stock has a market cap of $5,913.95, a price-to-earnings ratio of 52.80, a PEG ratio of 3.24 and a beta of 0.79. The company has a current ratio of 8.61, a quick ratio of 8.40 and a debt-to-equity ratio of 0.93.

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

Several analysts have commented on the stock. 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 target price on shares of Echostar and gave the stock a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Friday, November 10th. 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. The company has a consensus rating of “Buy” and an average price target of $68.33.

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About Echostar

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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