Today it was reported that the Chairman of Echostar Corp (SATS), Charles Ergen, exercised options to buy 6,500,000 SATS shares at $8.79 a share, for a total transaction value of $57.15M.
Following Charles Ergen’s last SATS Buy transaction on December 02, 2015, the stock climbed by 5.0%.
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Based on Echostar Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $531 million and quarterly net profit of $14.2 million. In comparison, last year the company earned revenue of $502 million and had a GAAP net loss of $21.55 million. Currently, Echostar Corp has an average volume of 339.5K.
Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $60.50, reflecting a 42.0% upside.
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EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services.
