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EchoStar Corp [SATS] Investment Appeal on the Rise

In a filing, EchoStar Corp revealed its Director DEFRANCO JAMES acquired Company’s shares for reported $1.48 million on Mar 08 ’24. In the deal valued at $13.48 per share,110,000 shares were bought. As a result of this transaction, DEFRANCO JAMES now holds 306,951 shares worth roughly $4.7 million.

Then, DEFRANCO JAMES bought 20,000 shares, generating $268,800 in total proceeds. Upon buying the shares at $13.44, the Director now owns 196,951 shares.

Before that, DEFRANCO JAMES bought 70,000 shares. EchoStar Corp shares valued at $919,800 were divested by the Director at a price of $13.14 per share. As a result of the transaction, DEFRANCO JAMES now holds 176,951 shares, worth roughly $2.71 million.

JP Morgan initiated its EchoStar Corp [SATS] rating to a Neutral in a research note published on January 17, 2024; the price target was $18. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early August from “an Outperform” to “a Strong buy”. Raymond James also remained covering SATS and has decreased its forecast on November 04, 2022 with a “an Outperform” recommendation from previously “Strong buy” rating. Citigroup revised its rating on October 04, 2019. It rated SATS as “a Neutral” which previously was an “a Buy”.

Price Performance Review of SATS

On Friday, EchoStar Corp [NASDAQ:SATS] saw its stock fall -1.92% to $15.31. Over the last five days, the stock has lost -12.24%. EchoStar Corp shares have fallen nearly -7.60% since the year began. Nevertheless, the stocks have risen 1.19% over the past one year. While a 52-week high of $24.80 was reached on 01/16/24, a 52-week low of $9.53 was recorded on 03/01/24. SMA at 50 days reached $14.53, while 200 days put it at $14.93. A total of 1.55 million shares were traded, compared to the trading of 2.39 million shares in the previous session.

Levels Of Support And Resistance For SATS Stock

The 24-hour chart illustrates a support level at 14.88, which if violated will result in even more drops to 14.46. On the upside, there is a resistance level at 15.66. A further resistance level may holdings at 16.02. The Relative Strength Index (RSI) on the 14-day chart is 48.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.00%. Stochastics %K at 36.07% indicates the stock is a holding.

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