Fintel reports that on August 7, 2023, Raymond James upgraded their outlook for EchoStar Corp - (NASDAQ:SATS) from Outperform to Strong Buy .
Analyst Price Forecast Suggests 26.32% Upside
As of August 2, 2023, the average one-year price target for EchoStar Corp - is 24.48. The forecasts range from a low of 20.20 to a high of $29.40. The average price target represents an increase of 26.32% from its latest reported closing price of 19.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for EchoStar Corp - is 1,910MM, a decrease of 1.35%. The projected annual non-GAAP EPS is 0.23.
What is the Fund Sentiment?
There are 446 funds or institutions reporting positions in EchoStar Corp -. This is an increase of 4 owner(s) or 0.90% in the last quarter. Average portfolio weight of all funds dedicated to SATS is 0.12%, a decrease of 0.16%. Total shares owned by institutions decreased in the last three months by 0.60% to 37,119K shares. 
The put/call ratio of SATS is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
Quaker Capital Investments holds 2,033K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 1,559K shares, representing an increase of 23.31%. The firm increased its portfolio allocation in SATS by 31.79% over the last quarter.
Renaissance Technologies holds 1,727K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 1,769K shares, representing a decrease of 2.44%. The firm increased its portfolio allocation in SATS by 3.82% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,107K shares representing 1.32% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 957K shares representing 1.14% ownership of the company. In it's prior filing, the firm reported owning 973K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in SATS by 0.34% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 884K shares representing 1.06% ownership of the company. In it's prior filing, the firm reported owning 868K shares, representing an increase of 1.88%. The firm increased its portfolio allocation in SATS by 7.26% over the last quarter.
EchoStar Background Information
(This description is provided by the company.)
EchoStar Corporation is a premier global provider of satellite communication solutions. Headquartered in Englewood, Colo., and conducting business around the globe, EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.
Additional reading:
- Press release dated May 8, 2023 issued by EchoStar Corporation regarding financial results for the period ended March 31, 2023.
- Amendment No. 3 dated March 24, 2023 to the Contract between EchoStar XXIV L.L.C. and Maxar Space LLC for the Jupiter 3 Satellite Program
- Press release dated February 22, 2023 issued by EchoStar Corporation regarding financial results for the quarter and full year ended December 31, 2022.
- Subsidiaries of EchoStar Corporation.
- Lisa W. Hershman, Pradman P. Kaul, Jeffrey R. Tarr, C. Michael Schroeder and William David Wade.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
