After Forming Double Bottom Chart Pattern, Is EchoStar Corporation (SATS)’s Near-Term Analysis Negative?

September 8, 2018 - By Matthew Richard

EchoStar Corporation (NASDAQ:SATS) Logo

Investors sentiment decreased to 1.07 in 2018 Q1. Its down 0.55, from 1.62 in 2017Q4. It dived, 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.
Verition Fund Mgmt Ltd invested in 0.15% or 38,111 shares. Aperio Gp Limited Liability Corporation invested 0% in EchoStar Corporation (NASDAQ:SATS). State Street holds 0% of its portfolio in EchoStar Corporation (NASDAQ:SATS) for 717,729 shares. Alliancebernstein Ltd Partnership owns 24,035 shares for 0% of their portfolio. First Quadrant L P Ca holds 5,322 shares. Howe And Rusling holds 0% of its portfolio in EchoStar Corporation (NASDAQ:SATS) for 160 shares. Altalis Mgmt Ltd invested in 340,225 shares. 47,677 are owned by First Ltd Partnership. Financial Bank Of America Corporation De holds 0% or 133,146 shares. Goldman Sachs Grp holds 233,981 shares. Us National Bank & Trust De reported 0% of its portfolio in EchoStar Corporation (NASDAQ:SATS). Schwab Charles Investment Management invested in 0.01% or 272,309 shares. Tiaa Cref Investment Ltd Liability Com reported 137,536 shares or 0% of all its holdings. Ubs Asset Mngmt Americas holds 0% or 58,273 shares in its portfolio. Cubist Systematic Strategies Lc accumulated 11,508 shares.

Since June 27, 2018, it had 0 insider buys, and 1 sale for $222,650 activity.

The chart of EchoStar Corporation (SATS) shows a double bottom with $42.92 target or 9.00 % below today’s $47.17 share price. The 8 months chart pattern indicates high risk for the $4.54 billion company. It was reported on Sep, 8 by If the $42.92 price target is reached, the company will be worth $408.24M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.13% or $0.06 during the last trading session, reaching $47.17. About 87,397 shares traded. EchoStar Corporation (NASDAQ:SATS) has declined 18.76% since September 8, 2017 and is downtrending. It has underperformed by 31.33% the S&P500.

Analysts await EchoStar Corporation (NASDAQ:SATS) to report earnings on November, 14. They expect $0.10 EPS, down 72.22 % or $0.26 from last year’s $0.36 per share. SATS’s profit will be $9.62 million for 117.93 P/E if the $0.10 EPS becomes a reality. After $0.12 actual EPS reported by EchoStar Corporation for the previous quarter, Wall Street now forecasts -16.67 % negative EPS growth.

Another recent and important EchoStar Corporation (NASDAQ:SATS) news was published by which published an article titled: “EchoStar Corporation (SATS) CEO Mike Dugan on Q2 2018 Results – Earnings Call Transcript” on August 11, 2018.

EchoStar Corporation provides satellite service activities and video delivery solutions worldwide. The company has market cap of $4.54 billion. It operates in two divisions, Hughes and EchoStar Satellite Services. It has a 11.35 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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