The stock of Echostar Corporation (NASDAQ:SATS) hit a new 52-week high and has $52.79 target or 4.00% above today’s $50.76 share price. The 8 months bullish chart indicates low risk for the $4.78B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $52.79 price target is reached, the company will be worth $191.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.65% or $0.33 during the last trading session, hitting $50.76. About 59,695 shares traded hands. Echostar Corporation (NASDAQ:SATS) has risen 22.76% since April 22, 2016 and is uptrending. It has outperformed by 17.35% the S&P500.
Analysts await Echostar Corporation (NASDAQ:SATS) to report earnings on February, 22. They expect $0.41 EPS, down 42.25% or $0.30 from last year’s $0.71 per share. SATS’s profit will be $38.61 million for 30.95 P/E if the $0.41 EPS becomes a reality. After $0.39 actual EPS reported by Echostar Corporation for the previous quarter, Wall Street now forecasts 5.13% EPS growth.
According to Zacks Investment Research, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers.”
Insitutional Activity: The institutional sentiment decreased to 1.08 in Q2 2016. Its down 0.50, from 1.58 in 2016Q1. The ratio worsened, as 12 funds sold all Echostar Corporation shares owned while 45 reduced positions. 23 funds bought stakes while 67 increased positions. They now own 41.20 million shares or 0.23% more from 41.11 million shares in 2016Q1.
Chesapeake Asset Mgmt Limited Liability Com has 6,590 shares for 0.21% of their US portfolio. Three Peaks Cap Mgmt Ltd Com last reported 0.49% of its portfolio in the stock. Gargoyle Inv Advisor Ltd Liability Co holds 0.87% or 58,636 shares in its portfolio. Howard Hughes Med Institute has 11,166 shares for 0.15% of their US portfolio. Moreover, Citigroup Inc has 0% invested in Echostar Corporation (NASDAQ:SATS) for 13,717 shares. Parametric Portfolio Assoc Ltd Company accumulated 0.01% or 80,144 shares. Bbva Compass Bancorp Incorporated holds 0.04% of its portfolio in Echostar Corporation (NASDAQ:SATS) for 14,491 shares. Prudential Public Ltd Co has 0.01% invested in the company for 80,000 shares. Great West Life Assurance Company Can reported 5,682 shares or 0% of all its holdings. Quantbot Ltd Partnership has invested 0.01% of its portfolio in Echostar Corporation (NASDAQ:SATS). Thornburg Management holds 0.53% or 1.72M shares in its portfolio. The New York-based Silvercrest Asset Grp Incorporated Ltd Liability Corp has invested 0% in Echostar Corporation (NASDAQ:SATS). The Pennsylvania-based Brandywine Glob Management Limited Company has invested 0.04% in Echostar Corporation (NASDAQ:SATS). Dimensional Fund Advsrs Lp last reported 1.07M shares in the company. Parkwood Ltd Llc reported 10,959 shares or 0.07% of all its holdings.
Insider Transactions: Since November 11, 2016, the stock had 0 buys, and 4 insider sales for $6.35 million net activity. Kilaru Kranti had sold 2,000 shares worth $99,900 on Friday, November 11. 5,000 shares were sold by RAYNER DAVID, worth $250,050 on Friday, November 11.
More news for Echostar Corporation (NASDAQ:SATS) were recently published by: Prnewswire.com, which released: “EchoStar Corporation Announces Conference Call For Third Quarter 2016 …” on November 02, 2016. Streetinsider.com‘s article titled: “Echostar Corporation (SATS) Appoints New COO” and published on October 03, 2016 is yet another important article.
SATS Company Profile
EchoStar Corporation, incorporated on October 12, 2007, is a holding company. The Firm is a well-known 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. The Firm operates through three divisions: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). The Company’s activities also include real estate and other activities. The Company’s satellite fleet consists of both owned and leased satellites, which include SPACEWAY 3(1), EchoStar XVII, EchoStar I(2)(3)(4), EchoStar III(4), EchoStar VI(4), EchoStar VII(2)(3), EchoStar VIII(2), EchoStar IX(2), EchoStar X (2)(3), EchoStar XI (2)(3), Nimiq 5(2), QuetzSat-1(2), AMC-15 and AMC-16 (7), among others.
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