EchoStar Corporation (SATS, Financial) recently experienced a significant stock price increase of 5.11%, trading at $24.07 per share with a volume of 1.65267 million shares and a turnover rate of 0.58%. The stock's amplitude reached 3.97%. Despite the surge, the company's latest financial report shows a revenue of $3.891 billion, a net loss of $142 million, and an earnings per share (EPS) of -$0.52. The gross profit stood at $502 million, and the price-to-earnings (P/E) ratio was -2.62.
Regarding analyst ratings, out of six institutions covering EchoStar, 33% recommend buying, 50% suggest holding, and 17% advise selling. Within the communications industry, where EchoStar operates, the overall decline was 0.99%. Notably, stocks such as Commscope Holding Company, Inc., Ceragon Networks, and Actelis Networks, Inc. showed significant gains. Actelis Networks, Inc., Akoustis Technologies, Inc., and Siyata Mobile, Inc. were notably active, with turnover rates of 19.33%, 14.95%, and 10.34%, respectively. Stocks with high amplitude included Ondas Holdings Inc., Vislink Technologies, and Akoustis Technologies, Inc., with amplitudes of 16.91%, 16.59%, and 15.61% respectively.
EchoStar is primarily known for its satellite television services, catering to around 6 million U.S. customers, about 10% of the traditional TV market. In 2015, the company launched an internet-based TV service under the Sling brand, serving approximately 2 million customers. EchoStar has agreed to sell this business to DirecTV, a competitor. The company is now focusing on the wireless market, having acquired a broad spectrum license portfolio and is building a nationwide wireless network. EchoStar also acquired Sprint's prepaid business, serving around 7 million customers under the Boost brand. Its traditional business offers satellite telecom services and equipment to enterprises and consumers, including about 1 million internet customers.
