The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DISH Network Corporation shares valued at $695,231 were purchased by DEFRANCO JAMES on May 13. At $20.63 per share, DEFRANCO JAMES acquired 33,700 shares. The insider’s holdings grew to 2,117,658 shares worth approximately $40.57 million following the completion of this transaction.
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Also, DEFRANCO JAMES purchased 50,000 shares, netting a total of over 1,015,000 in proceeds. Following the buying of shares at $20.30 each, the insider now holds 1,711,428 shares.
Before that, DEFRANCO JAMES had added 766,300 shares to its account. In a trade valued at $14,866,220, the Director bought DISH Network Corporation shares for $19.40 each. Upon closing the transaction, the insider’s holdings increased to 766,300 shares, worth approximately $39.93 million.
As published in a research note from Pivotal Research Group on August 04, 2022, DISH Network Corporation [DISH] has been retained to a Buy and the price target has been revised to $36. This represents a 46.78% premium over Thursday’s closing price. Analysts at Truist upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late May. As of May 09, 2022, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for DISH. Earlier on May 09, 2022, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for DISH stock which previously was a “an Overweight”.
Analyzing DISH’s Price Performance
On Thursday, DISH Network Corporation [NASDAQ: DISH] rose 5.16% to $19.16. The stock’s lowest price that day was $18.09, but it reached a high of $19.84 in the same session. During the last five days, there has been a surge of approximately 6.15%. Over the course of the year, DISH Network Corporation shares have dropped approximately -40.94%. Shares of the company reached a 52-week high of $37.28 on 01/12/22 and a 52-week low of $16.20 on 06/23/22. A 50-day SMA is recorded $18.84, while a 200-day SMA reached $28.76. Nevertheless, trading volume fell to 4.41 million shares from 5.64 million shares the previous day.
Support And Resistance Levels for DISH Network Corporation (DISH)
According to the 24-hour chart, there is a support level at 18.22, which, if violated, would cause prices to drop to 17.28. In the upper region, resistance lies at 19.97. The next price resistance is at 20.78. RSI (Relative Strength Index) is 56.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 20.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is DISH Network Corporation subject to short interest?
Stocks of DISH Network Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.7 million shares to 28.41 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 27.71 million shares. A jump of 2.46% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.65.
Which companies own the most shares of DISH Network Corporation (DISH)?
According to Dodge & Cox filings, the company currently owns 38,343,264 shares, which is about 13.15% of the total DISH shares outstanding. The investor’s shares have appreciated by 75,176 from its previous 13-F filing of 38268088.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $471,885,272. Eagle Capital Management LLC reduced a -1.93% interest valued at $309.38 million while BlackRock Fund Advisors sold a -154,566 stake. A total of 30,607 shares of DISH Network Corporation were sold by SSgA Funds Management, Inc. during the quarter, and 135,939 were bought by Palestra Capital Management LLC. In its current portfolio, Edgepoint Investment Group, Inc. holds 5,427,375 shares valued at $97.31 million.
In terms of DISH Network Corporation share price expectations, FactSet research, analysts set an average price target of $35.93 in the next 12 months, up nearly 97.59% from the previous closing price of $18.22. Analysts anticipate DISH Network Corporation stock to reach $60.00 by 2022, with the lowest price target being $18.00. In spite of this, 19 analysts ranked DISH Network Corporation stock as an Overweight at the end of 2022. On March 08, 2022, UBS assigned a price target of “a Buy” to the stock and upgraded coverage with a $44.