EchoStar Corporation (SATS, Financial) recently experienced a significant stock fluctuation, with its price dropping by 5.08%. The stock is currently trading at $23.00 per share, with a trading volume of 654,155 shares and a turnover rate of 0.23%. The stock's amplitude is noted at 5.34%.
The latest financial report reveals EchoStar's operating revenue at $3.891 billion, with a net loss of $142 million. The earnings per share stand at -$0.52, with a gross profit of $502 million, resulting in a price-to-earnings ratio of -2.51. Among six institutions that rated the stock, 33% recommended buying, 50% suggested holding, and 17% advised selling.
Within the communications sector, where EchoStar operates, the overall growth was 0.29%. Notable stocks in this sector included Akoustis Technologies, Inc., Applied Optoelectronics, and Mobilicom Ltd, which showed significant increases. Akoustis Technologies, Inc. was particularly active with a turnover rate of 26.96%, followed by Applied Optoelectronics at 10.78% and Siyata Mobile, Inc. at 7.84%. Regarding stock amplitude, Akoustis Technologies, Inc. led with 25.90%, followed by Comtech Telecommunications at 14.36% and Siyata Mobile Inc at 13.07%.
EchoStar, after merging with Dish Network, primarily derives its revenue from satellite TV, serving around 6 million U.S. users, representing about 10% of the traditional TV market. The company launched Sling-branded internet TV in 2015, catering to around 2 million users. However, EchoStar's future hinges on its wireless business, supported by a substantial spectrum license portfolio and a nationwide wireless network under construction. Additionally, it acquired Sprint's prepaid business, serving approximately 7 million customers under the Boost brand. EchoStar also provides satellite telecommunications services and equipment to businesses and consumers, including about 1 million internet users.
