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September 28, 2020

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Investors Update: EchoStar Corporation (NASDAQ:SATS) make a deal with DISH Network Corporation (NASDAQ:DISH)

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EchoStar Corporation (NASDAQ:SATS) stock observed trading -21.09% off 52-week high price. On the other end, the stock has been noted 20.29% away from low price over the last 52-weeks. The stock disclosed a move of 4.66% away from 50 day moving average and -2.47% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.17% off 20-day moving average. It has market cap of $3852.14M.

EchoStar Corporation (NASDAQ:SATS) reported that it executed an agreement with DISH Network Corporation (NASDAQ:DISH) to transfer to DISH the portion of its EchoStar Satellite Services business that manages and provides broadcast satellite services primarily to DISH and its subsidiaries (“BSS Business”).  EchoStar shareholders will receive 22,937,188 shares of DISH Class A common stock upon consummation of the transaction.

The BSS Business includes the business of EchoStar that manages and provides broadcast satellite services to DISH and its subsidiaries and DISH Mexico, S. de R.L. de C.V.  It also provides telemetry, tracking and control services to satellites owned by DISH and a portion of EchoStar’s other businesses.  The transaction will also include the products, assets, licenses and technology, and the business operations, revenues, billings, liabilities and operating activities, primarily related to those businesses and certain other EchoStar real estate properties.

Mike Dugan, President and CEO of EchoStar said. “This transaction will allow EchoStar to focus our efforts on our high growth business of broadband services and other initiatives, while eliminating a negative growth component of our financial performance and the risk associated with providing services to a solitary customer.”

The USA based company EchoStar Corporation moved with change of -0.57% to $40.4 with the total traded volume of 255594 shares in recent session versus to an average volume of 362.11K. The stock was observed in the 5 days activity at 0.72%. The one month performance of stock was 0.25%. SATS’s shares are at -4.31% for the quarter and driving a -20.61% return over the course of the past year and is now at 10.02% since this point in 2018.  Right now the stock beta is 0.9. The average volatility for the week and month was at 2.16% and 2.52% respectively. There are 95.35M shares outstanding and 46.87M shares are floated in market.