SATS Stock Summary and Trading Ideas (Echostar | NASDAQ:SATS)

Following the Dish Network merger, satellite television provides the bulk of EchoStar's revenue. The firm serves about 7 million U.S. customers, about 10% of the traditional television market. It launched an internet-based television offering under the Sling brand in 2015 and serves about 2 million customers on this platform. EchoStar's future, however, hinges primarily on the wireless business. The firm has amassed an extensive portfolio of spectrum licenses over the past 15 years and is building a nationwide wireless network. It acquired Sprint's prepaid business and serves about 8 million customers, primarily under the Boost brand. EchoStar's legacy businesses provide satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.

Echostar trades on the NASDAQ stock market under the symbol SATS.

As of April 24, 2024, SATS stock price climbed to $15.59 with 347,965 million shares trading.

SATS has a beta of 1.29, meaning it tends to be more sensitive to market movements. SATS has a correlation of 0.04 to the broad based SPY ETF.

SATS has a market cap of $4.23 billion. This is considered a Mid Cap stock.

Last quarter Echostar reported $4 billion in Revenue and $1.21 earnings per share. This beat revenue expectation by $273 million and exceeded earnings estimates by $1.31.

In the last 3 years, SATS stock traded as high as $30.90 and as low as $9.53.

The top ETF exchange traded funds that SATS belongs to (by Net Assets): IJR, VTI, IWM, VB, FNDA.

SATS has underperformed the market in the last year with a return of -9.6%, while the SPY ETF gained +24.0%. In the last 3 month period, SATS fell short of the market, returning +3.2%, while SPY returned +4.4%. However, in the most recent 2 weeks SATS has outperformed the stock market by returning +14.1%, while SPY returned -2.9%.

SATS support price is $14.68 and resistance is $15.92 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SATS stock will trade within this expected range on the day.