EchoStar Corporation (SATS) Formed a Double Bottom, Could Be One of The Worst Performers Going Forward

August 9, 2018 - By Jack Shaw

EchoStar Corporation (NASDAQ:SATS) Logo

Investors sentiment decreased to 1.07 in 2018 Q1. Its down 0.55, from 1.62 in 2017Q4. It dropped, as 15 investors sold EchoStar Corporation shares while 61 reduced holdings. 26 funds opened positions while 55 raised stakes. 41.36 million shares or 1.69% less from 42.07 million shares in 2017Q4 were reported.
Macquarie Group Incorporated Ltd invested in 6,700 shares or 0% of the stock. Serv Automobile Association owns 8,743 shares. First Personal Financial reported 0% in EchoStar Corporation (NASDAQ:SATS). Wellington Gru Ltd Liability Partnership reported 22,983 shares. Walleye Trading Limited holds 8,225 shares. Virginia Retirement Et Al has 6,800 shares. Arrowstreet Capital L P owns 0.01% invested in EchoStar Corporation (NASDAQ:SATS) for 67,477 shares. Paloma Prns reported 8,170 shares. Tower Cap Ltd Llc (Trc) invested in 250 shares. Stratos Wealth Partners Ltd invested in 18 shares. 644,697 were reported by Horizon Kinetics Ltd Liability Co. South State Corporation has 0.02% invested in EchoStar Corporation (NASDAQ:SATS). Nomura Holding Incorporated holds 0% of its portfolio in EchoStar Corporation (NASDAQ:SATS) for 14,683 shares. Manufacturers Life The reported 0% in EchoStar Corporation (NASDAQ:SATS). 38,386 were accumulated by Morgan Stanley.

Since February 26, 2018, it had 0 insider buys, and 3 sales for $700,726 activity. Federico Anthony M sold $222,650 worth of stock or 5,000 shares.

The chart of EchoStar Corporation (SATS) shows a double bottom with $44.88 target or 6.00 % below today’s $47.74 share price. The 9 months chart pattern indicates high risk for the $4.59B company. It was reported on Aug, 9 by Finviz.com. If the $44.88 price target is reached, the company will be worth $275.46 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.54% or $0.26 during the last trading session, reaching $47.74. About 194,898 shares traded. EchoStar Corporation (NASDAQ:SATS) has declined 18.76% since August 9, 2017 and is downtrending. It has underperformed by 31.33% the S&P500.

EchoStar Corporation (NASDAQ:SATS) Ratings Coverage

Among 2 analysts covering EchoStar (NASDAQ:SATS), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. EchoStar had 2 analyst reports since February 26, 2018 according to SRatingsIntel. The rating was upgraded by Raymond James on Friday, May 11 to “Strong Buy”. Citigroup maintained it with “Buy” rating and $76 target in Monday, February 26 report.

More recent EchoStar Corporation (NASDAQ:SATS) news were published by: Seekingalpha.com which released: “Hughes launches new capacity for South America” on July 23, 2018. Also Seekingalpha.com published the news titled: “EchoStar +5.2% after Hughes paces revenue beat” on August 07, 2018. Nasdaq.com‘s news article titled: “Market Trends Toward New Normal in Par Pacific, EchoStar, Washington Federal, Advanced Drainage, National …” with publication date: August 02, 2018 was also an interesting one.

EchoStar Corporation provides satellite service activities and video delivery solutions worldwide. The company has market cap of $4.59 billion. It operates in two divisions, Hughes and EchoStar Satellite Services. It has a 13.86 P/E ratio. The Hughes divisions offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

EchoStar Corporation (NASDAQ:SATS) Institutional Positions Chart

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