1. EchoStar Corporation (NASDAQ:SATS)
Number of Hedge Fund Holders: 90
On May 18, TD Cowen analyst Gregory Williams raised the firm’s price target on EchoStar Corporation (NASDAQ:SATS) to $155 from $129 while maintaining a Buy rating on the shares. The firm updated its financial model following the company’s Q1 results and revised estimates, noting that EBITDA performance came in below expectations but was less severe after adjusting for approximately $125 million in RSA settlement payments.
On May 12, the Federal Communications Commission announced that it had approved the assignment of approximately 65 megahertz of mid-band spectrum to Space Exploration Technologies Corp. for use in its next-generation direct-to-device communications network. The approval grants applications filed by SpaceX, Spectrum Business Trust 2025-1, and EchoStar Corporation (NASDAQ:SATS) and its wholly owned subsidiaries to transfer EchoStar’s AWS-4, AWS-H Block, unpaired AWS-3 spectrum licenses, and several earth station licenses through a two-step transaction. The Federal Communications Commission stated that the transaction, combined with waivers and buildout conditions, is intended to unlock underutilized spectrum assets and expand spectrum-based connectivity services for consumers across the United States.
EchoStar Corporation (NASDAQ:SATS), founded in 1980 and headquartered in Englewood, Colorado, is a telecommunications and satellite services company that provides broadband internet, wireless mobile services, and in-flight connectivity solutions through brands including HughesNet and Boost Mobile. In addition to its satellite communications and Pay-TV operations, the company maintains a substantial portfolio of wireless spectrum assets, positioning it as an important participant in the evolving satellite and direct-to-device connectivity market.
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