Track market-moving stories before they get noisy

EchoStar turned a massive spectrum sale into a SpaceX windfall and a stronger balance sheet, but angry creditors are now asking whether a bankrupt subsidiary was drained to make that transformation possible.

The telecom industry’s great balance-sheet reshuffling has entered a new phase. EchoStar (NASDAQ:SATS | SATS Price Prediction) has sold more than $40 billion of spectrum to buyers including AT&T (NYSE:T) and SpaceX (NASDAQ:SPCX), transforming a company once weighed down by enormous capital requirements into one with a valuable SpaceX stake and greater liquidity. 

But the restructuring has left several subsidiaries behind — and now creditors want to know whether Hughes Satellite Systems was stripped of assets before it entered bankruptcy.

The $1.5 Billion Allegation EchoStar owns Hughes Satellite Systems, which filed Chapter 11 on Aug. 2 after failing to fund roughly $1.5 billion of debt that matured Aug. 1. Hughes had only $101.6 million of cash at March 31, according to its first-quarter filing.

The bankruptcy petition lists assets and liabilities between $1 billion and $10 billion and 10,001 to 25,000 creditors. Hughes also acknowledges at least $774 million of fixed, liquidated, undisputed, unsecured loan debt.

Bondholders, however, allege the problem was not simply a weak satellite business. Their Aug. 5 motion says EchoStar stripped more than $1.5 billion from Hughes through transactions that benefited the parent at creditors’ expense.

The allegations center on four transactions:

Hughes leased the Jupiter 3 satellite from an EchoStar subsidiary beginning in December 2023 for about $191 million annually, which bondholders call above-market. Hughes paid EchoStar $1.029 billion in dividends during the first quarter of 2024. Hughes reimbursed EchoStar $196 million for taxes — roughly 15 times the amount paid in prior years, according to creditors. EchoStar’s SpaceX agreement included referrals of Hughes subscribers to SpaceX for fees, while disclosures leave unclear which entity receives those fees. Creditors also allege certain Hughes satellite assets and regulatory authorizations may have moved as part of the transaction. A $40 billion spectrum sale and a massive SpaceX stake—while a subsidiary is left behind with $1.5 billion in debt and a creditor war. Why SpaceX Matters The SpaceX transaction makes the allegations particularly interesting for investors.

EchoStar agreed to sell spectrum to SpaceX for approximately $20 billion, including up to $11 billion in SpaceX stock. The transaction ultimately gives SpaceX spectrum for its Starlink direct-to-cell ambitions.

Ironically, Hughes creditors now argue that some assets and economic opportunities connected with that broader transaction may have benefited EchoStar while Hughes entered bankruptcy with insufficient resources to meet its obligations.

That doesn’t prove wrongdoing. It does explain why creditors want an independent investigation rather than an internal review.

Investors Need To Separate EchoStar From Hughes EchoStar itself is not the debtor in the Hughes case, and its liquidity profile has improved after the spectrum transactions and related debt reductions. EchoStar’s June 2026 filing also reflects the company’s transformed balance sheet following the spectrum monetization.

But the legal risk is real. The U.S. Trustee urged the bankruptcy court to appoint an examiner to investigate the $1.5 billion of transactions, following the bondholders’ request. U.S. Bankruptcy Judge Alfredo Perez is scheduled to consider that request today.

Key Takeaway In short, Hughes’ bankruptcy does not automatically put EchoStar in financial danger. It does, however, create a potentially expensive governance problem.

If an independent examiner finds that Hughes transferred value improperly, creditors could pursue recoveries that exceed $1.5 billion. For shareholders, that makes today’s hearing important. EchoStar’s SpaceX windfall may have dramatically improved its balance sheet, but investors should not confuse stronger liquidity with a clean slate.

Contact [email protected] for any questions or corrections.

EchoStar Corporation's latest quarter showed a real improvement in operating efficiency, with Adjusted OIBDA rising to $681.2M from $279.6M despite lower revenue and continued subscriber losses. The reported [EPS] of $24.12 was distorted by a large non-cash deconsolidation gain, so the key takeaway is stronger underlying profitability rather than the headline earnings figure. ECHO stock's sharp decline since my previous Hold-rated article has rebuilt the margin of safety and created a more attractive entry point.

ENGLEWOOD, Colo., Aug. 03, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation (NASDAQ: ECHO) reported second quarter 2026 total revenue of $3.58 billion, compared to $3.72 billion in 2025. Net income attributable to EchoStar in the second quarter of 2026 totaled $8.46 billion, compared to a net loss of $306.13 million in the year-ago quarter. The net income in 2026 was primarily attributable to a non-cash gain on deconsolidation totaling approximately $9.73 billion. Excluding the tax affected impact of the non-cash adjustment for 2026, the net income attributable to EchoStar would have been approximately $49.46 million. Diluted earnings per share was $24.12 in the second quarter of 2026, compared to a loss of $1.06 in 2025.

Pay-TV

Net pay-TV subscribers decreased approximately 241,000 in the second quarter of 2026, compared to a decrease of approximately 261,000 in the year-ago quarter.The company closed the quarter with 6.39 million pay-TV subscribers, including 4.68 million DISH TV subscribers and 1.71 million Sling TV subscribers. Retail Wireless

Retail wireless subscribers decreased by approximately 118,000 in the second quarter of 2026, compared to an increase of 212,000 in the year-ago quarter.The company closed the quarter with 7.38 million wireless subscribers. Broadband and Satellite Services

Broadband subscribers decreased by approximately 59,000 in the second quarter of 2026, compared to a decrease of 34,000 in the year-ago quarter.The company closed the quarter with 622,000 broadband subscribers. Additional Details

Detailed financial data and other information are available in EchoStar’s Form 10-Q for the quarter ending June 30, 2026, filed with the Securities and Exchange Commission.

EchoStar will host a conference call to discuss its earnings on Monday, August 3, 2026, at 12:00 p.m. Eastern Time.

The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at ir.echostar.com. To attend the call, please dial: (877) 484-6065 (U.S.) or +1 (201) 689-8846. When prompted on dial-in, please utilize the conference ID 13762022 or ask for the "EchoStar Corporation Q2 2026 Earnings Conference Call.” Please dial in at least 10 minutes before the call to ensure timely participation.

Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended June 30, 2026 and 2025 (all U.S. GAAP amounts reference results from operations):

 For the Three Months Ended For the Six Months Ended June 30, June 30, 2026  2025  2026  2025  (In thousands)Revenue           Pay-TV$2,248,534  $2,462,249  $4,542,798  $5,000,976 Wireless 929,023   931,803   1,891,514   1,901,471 Broadband and Satellite Services 316,904   339,780   646,560   710,438 Other 91,548   71,876   182,531   134,173 Eliminations (9,845)  (80,749)  (19,750)  (152,341)Total$3,576,164  $3,724,959  $7,243,653  $7,594,717             Net Income (loss) attributable to EchoStar$8,462,372  $(306,132) $8,315,487  $(508,801)            OIBDA           Pay-TV$600,656  $663,377  $1,128,089  $1,393,250 Wireless 50,760   (98,909)  64,477   (172,616)Broadband and Satellite Services 100,474   67,699   194,598   153,402 Other (69,118)  (337,075)  (145,108)  (661,556)Eliminations 709   (15,445)  873   (32,632)Total$683,481  $279,647  $1,242,929  $679,848             Adjusted OIBDA           Pay-TV$600,656  $663,377  $1,128,089  $1,393,250 Wireless 50,760   (98,909)  64,477   (172,616)Broadband and Satellite Services 100,199   67,699   194,323   153,402 Other (71,129)  (337,075)  (213,278)  (661,556)Eliminations 709   (15,445)  873   (32,632)Total$681,195  $279,647  $1,174,484  $679,848             Purchases of property and equipment (including capitalized interest related to regulatory authorizations)           Pay-TV$55,262  $78,580  $143,390  $140,968 Wireless 28,992   —   57,825   — Broadband and Satellite Services 6,942   43,118   18,552   75,221 Other 1,103   625,203   5,967   909,196  $92,299  $746,901  $225,734  $1,125,385              Reconciliation of GAAP to Non-GAAP Measurement:

  Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Three Months Ended  June 30, 2026 (In thousands)Segment operating income (loss) $542,341 $(97) $50,457  $(80,472) $709  $512,938 Depreciation and amortization  58,315  50,857   50,017   11,354   —   170,543 OIBDA  600,656  50,760   100,474   (69,118)  709   683,481 Impairments and other  —  —   (275)  (2,011)  —   (2,286)Adjusted OIBDA $600,656 $50,760  $100,199  $(71,129) $709  $681,195                    For the Three Months Ended  June 30, 2025             Segment operating income (loss) $595,552 $(118,159) $(36,738) $(654,788) $725  $(213,408)Depreciation and amortization  67,825  19,250   104,437   317,713   (16,170)  493,055 OIBDA  663,377  (98,909)  67,699   (337,075)  (15,445)  279,647 Impairments and other  —  —   —   —   —   — Adjusted OIBDA $663,377 $(98,909) $67,699  $(337,075) $(15,445) $279,647                      Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Six Months Ended  June 30, 2026 (In thousands)Segment operating income (loss) $1,013,908 $(35,879) $94,641  $(167,767) $882  $905,785 Depreciation and amortization  114,181  100,356   99,957   22,659   (9)  337,144 OIBDA  1,128,089  64,477   194,598   (145,108)  873   1,242,929 Impairments and other  —  —   (275)  (68,170)  —   (68,445)Adjusted OIBDA $1,128,089 $64,477  $194,323  $(213,278) $873  $1,174,484                    For the Six Months Ended  June 30, 2025             Segment operating income (loss) $1,248,982 $(212,053) $(55,933) $(1,283,198) $662  $(301,540)Depreciation and amortization  144,268  39,437   209,335   621,642   (33,294)  981,388 OIBDA  1,393,250  (172,616)  153,402   (661,556)  (32,632)  679,848 Impairments and other  —  —   —   —   —   — Adjusted OIBDA $1,393,250 $(172,616) $153,402  $(661,556) $(32,632) $679,848                          Note on Use of Non-GAAP Financial Measures

OIBDA is defined as “Operating income (loss)” plus “Depreciation and amortization.”

Adjusted OIBDA is defined as "Operating income (loss)" plus "Depreciation and amortization" and "Impairments and other."

OIBDA and Adjusted OIBDA, which are presented by segment above, are non-GAAP measures reconciled to "Operating income (loss)" and do not purport to be alternatives to operating income (loss) as a measure of operating performance. We believe OIBDA is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.

We believe Adjusted OIBDA is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments as it excludes one-time, non-cash items that we do not consider to be reflective of our ongoing operating performance.

About EchoStar Corporation
EchoStar Corporation (Nasdaq: ECHO) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.

©2026 EchoStar. Hughes, HughesNet, DISH, and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corp.

Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "goal," "seek," "estimate," "expect," "intend," "project," "continue," "future," "will," "would," "can," "may," "plans," and similar expressions and the use of future dates are intended to identify forward–looking statements. Although management believes that the expectations reflected in these forward–looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no responsibility for the accuracy of forward-looking statements or information or for updating forward-looking information or statements. These statements are subject to certain risks, uncertainties, and assumptions. See "Risk Factors" in EchoStar's Annual Report on Form 10-K for the period ended December 31, 2025 as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.

  ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share amounts)
(Unaudited)
    As of June 30, December 31, 2026
 2025
Assets     Current Assets:   Cash and cash equivalents$439,988  $1,883,074 Current restricted cash, cash equivalents and marketable investment securities 1,055,678   175,838 Marketable investment securities 56,205   1,100,891 Trade accounts receivable, net of allowance for credit losses of $167,370 and $79,590, respectively 905,613   1,273,849 Inventory 322,390   380,647 Prepaids and other assets 229,671   284,194 Regulatory authorizations held for sale, net 16,822,253   — Other current assets 21,926   34,678 Total current assets 19,853,724   5,133,171       Noncurrent Assets:     Restricted cash, cash equivalents and marketable investment securities 55,081   176,203 Property and equipment, net 1,760,321   2,243,515 Regulatory authorizations, including restricted, net 17,116,754   34,548,952 Other investments, net 212,562   194,046 Operating lease assets 66,696   214,549 Intangible assets, net 49,124   54,413 Other noncurrent assets, net 311,136   451,506 Total noncurrent assets 19,571,674   37,883,184 Total assets$39,425,398  $43,016,355       Liabilities and Stockholders’ Equity (Deficit)     Current Liabilities:     Trade accounts payable$251,882  $541,706 Deferred revenue and other 221,389   639,173 Accrued programming —   1,224,222 Accrued interest 170,350   309,462 Other accrued expenses and liabilities 1,727,475   2,327,587 Current portion of debt, finance lease and other obligations 1,446,316   7,321,269 Total current liabilities 3,817,412   12,363,419       Long-Term Obligations, Net of Current Portion:     Long-term debt, finance lease and other obligations, net of current portion 15,985,387   18,658,602 Deferred tax liabilities, net 3,406,850   598,590 Operating lease liabilities 120,325   4,137,269 Long-term deferred revenue and other long-term liabilities 1,894,020   1,446,477 Total long-term obligations, net of current portion 21,406,582   24,840,938 Total liabilities 25,223,994   37,204,357       Commitments and Contingencies           Stockholders’ Equity (Deficit):     Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 160,892,524 and 159,266,457 shares issued, 159,103,504 and 157,477,437 shares outstanding, respectively 161   159 Class B common stock, $0.001 par value, 800,000,000 shares authorized, 131,348,468 shares issued and outstanding 131   131 Additional paid-in capital 8,949,104   8,875,937 Accumulated other comprehensive income (loss) (182,530)  (183,188)Accumulated earnings (deficit) 5,436,744   (2,878,743)Treasury stock, at cost, 1,789,020 shares (48,512)  (48,512)Total EchoStar stockholders’ equity (deficit) 14,155,098   5,765,784 Noncontrolling interests 46,306   46,214 Total stockholders’ equity (deficit) 14,201,404   5,811,998 Total liabilities and stockholders’ equity (deficit)$39,425,398  $43,016,355        ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
             For the Three Months Ended For the Six Months Ended June 30, June 30, 2026
 2025
 2026
 2025
Revenue:           Service revenue$3,301,538  $3,540,107  $6,677,078  $7,146,263 Equipment sales and other revenue 274,626   184,852   566,575   448,454 Total revenue 3,576,164   3,724,959   7,243,653   7,594,717             Costs and Expenses (exclusive of depreciation and amortization):           Cost of services 1,928,151   2,461,631   3,926,419   4,893,829 Cost of sales - equipment and other 418,970   354,187   955,877   793,695 Selling, general and administrative expenses 547,848   629,494   1,186,873   1,227,345 Depreciation and amortization 170,543   493,055   337,144   981,388 Impairments and other (2,286)  —   (68,445)  — Total costs and expenses 3,063,226   3,938,367   6,337,868   7,896,257             Operating income (loss) 512,938   (213,408)  905,785   (301,540)            Other Income (Expense):           Interest income 40,912   65,369   70,321   130,898 Interest expense, net of amounts capitalized (509,146)  (279,232)  (1,101,806)  (565,287)Deconsolidation gain 9,728,958   —   9,728,958   — Other, net 16,452   35,137   18,636   76,527 Total other income (expense) 9,277,176   (178,726)  8,716,109   (357,862)            Income (loss) before income taxes 9,790,114   (392,134)  9,621,894   (659,402)Income tax (provision) benefit, net (1,327,569)  85,290   (1,306,649)  149,277 Net income (loss) 8,462,545   (306,844)  8,315,245   (510,125)                Less: Net income (loss) attributable to noncontrolling interests, net of tax 173   (712)  (242)  (1,324)Net income (loss) attributable to EchoStar$8,462,372  $(306,132) $8,315,487  $(508,801)            Weighted-average common shares outstanding - Class A and B common stock:           Basic 290,141   287,505   289,581   287,012 Diluted 351,622   287,505   351,432   287,012             Earnings per share - Class A and B common stock:           Basic net income (loss) per share attributable to EchoStar$29.17  $(1.06) $28.72  $(1.77)Diluted net income (loss) per share attributable to EchoStar$24.12  $(1.06) $23.76  $(1.77)             ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
   For the Six Months Ended June 30, 2026
 2025
Cash Flows From Operating Activities:     Net income (loss)$8,315,245  $(510,125)Adjustments to reconcile net income (loss) to net cash flows from operating activities:     Depreciation and amortization 337,144   981,388 Impairments and other (68,445)  — Deconsolidation gain (9,728,958)  — Realized and unrealized losses (gains) and impairments on investments and other (8,472)  (64,831)Non-cash, stock-based compensation 23,363   16,123 Interest expense paid in kind on long-term debt —   114,756 Deferred tax expense (benefit) 1,289,307   (174,719)Changes in allowance for credit losses (5,352)  15,603 Change in long-term deferred revenue and other long-term liabilities (82,222)  420 Other, net 100,005   609 Changes in operating assets and operating liabilities, net 56,709   (164,957)Net cash flows from operating activities 228,324   214,267       Cash Flows From Investing Activities:     Purchases of marketable investment securities (577,120)  (2,247,724)Sales and maturities of marketable investment securities 1,571,636   1,526,245 Purchases of property and equipment (225,734)  (551,600)Capitalized interest related to regulatory authorizations —   (573,785)SpaceX Reimbursement of Cash Interim Debt Service Payments 413,663   — Cash divested from the Deconsolidated Entities (362,968)  — Sale of Fiber business —   47,207 Other, net (7,743)  (64)Net cash flows from investing activities 811,734   (1,799,721)      Cash Flows From Financing Activities:     Repayment of debt, finance lease and other obligations (16,221)  (46,272)Redemption and repurchases of debt (1,787,082)  (456,049)Proceeds from issuance of debt —   150,000 Debt issuance costs and debt (discount) premium —   (946)Early debt redemption gains (losses) —   11,465 Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 21,689   6,994 Other, net 2,700   (31,189)Net cash flows from financing activities (1,778,914)  (365,997)      Effect of exchange rates on cash and cash equivalents 19   2,965       Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (738,837)  (1,948,486)Cash, cash equivalents, restricted cash and cash equivalents, beginning of period 2,182,155   4,593,804 Cash, cash equivalents, restricted cash and cash equivalents, end of period$1,443,318  $2,645,318 

ENGLEWOOD, Colo., July 29, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation (Nasdaq: ECHO) will host a conference call to discuss its second quarter financial results on Monday, August 3, 2026, at 12 p.m. Eastern Time (ET). The conference call will be broadcast live in listen-only mode on EchoStar's Investor Relations website.

To attend the call, please use the information below for dial-in access. When prompted on dial-in, please utilize the conference ID or ask for the "EchoStar Corporation Q2 2026 Earnings Conference Call.”

Participant conference numbers: (877) 484-6065 (U.S.) and +1 (201) 689-8846
Conference ID: 13762022

Please dial in at least 10 minutes before the call to ensure timely participation.

Participants may also click here to sign in up to 15 minutes before the call starts to receive a phone call that automatically joins them to the earnings call when it begins.

A live webcast will be available on EchoStar's Investor Relations website the day of the call. A webcast replay will also be available for 48 hours after the call.

EchoStar will distribute its financial results prior to the call, which will also be posted to the Investor Relations website.

About EchoStar
EchoStar Corporation (Nasdaq: ECHO) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.

©2026 EchoStar. Hughes, HughesNet, DISH, and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corporation.

Posted by Defense World Staff on Jul 28th, 2026

Allspring Global Investments Holdings LLC purchased a new position in EchoStar Corporation (NASDAQ:SATS – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,427 shares of the communications equipment provider’s stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors have also modified their holdings of SATS. Bellwether Advisors LLC acquired a new stake in shares of EchoStar in the 4th quarter worth about $3,593,000. Dockside LLC bought a new stake in EchoStar in the 4th quarter valued at about $1,554,000. Seven Grand Managers LLC bought a new stake in EchoStar in the 4th quarter valued at about $21,740,000. Legal & General Group Plc boosted its stake in EchoStar by 47.0% during the 4th quarter. Legal & General Group Plc now owns 356,447 shares of the communications equipment provider’s stock valued at $38,746,000 after purchasing an additional 114,018 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in EchoStar during the 4th quarter valued at about $28,994,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth Several equities research analysts have commented on SATS shares. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen boosted their price objective on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. New Street Research set a $165.00 price objective on EchoStar in a research report on Monday, June 15th. Williams Trading set a $155.00 price objective on EchoStar in a report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.71.

Get Our Latest Stock Analysis on SATS

Insider Buying and Selling at EchoStar In other news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer owned 865,633 shares in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 55.90% of the company’s stock.

EchoStar Price Performance NASDAQ SATS opened at $103.80 on Tuesday. EchoStar Corporation has a 12 month low of $24.15 and a 12 month high of $147.25. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The firm has a market capitalization of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94. The company’s 50 day simple moving average is $112.70 and its 200 day simple moving average is $116.83.

EchoStar (NASDAQ:SATS – Get Free Report) last issued its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business posted ($0.71) earnings per share.

About EchoStar (Free Report)

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.

See Also Five stocks we like better than EchoStar AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EchoStar Corporation (NASDAQ:SATS – Free Report).

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Citi says EchoStar stock doesn't fully reflect the value of the company's future SpaceX stake, leaving meaningful upside for investors.

Key Takeaways

Ticker Change: EchoStar Corporation is changing its Nasdaq stock ticker symbol from "SATS" to "ECHO"Effective Date: The new ticker will begin trading on June 24, 2026Shareholder Impact: No action is required from current shareholders; ticker conversions will happen automaticallyRationale: The stock ticker transition highlights EchoStar's expansion beyond traditional satellite services into a global connectivity brand ENGLEWOOD, Colo., June 22, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation, the parent company of DISH Network, Boost Mobile, Sling TV, and Hughes Network Systems, today announced that it will change its Nasdaq stock ticker symbol from "SATS" to "ECHO" to better represent the company's expanding lines of business.

EchoStar’s common stock will begin trading under the new ticker symbol “ECHO” on the Nasdaq effective June 24, 2026. The CUSIP number for the Company’s common stock is not affected by the stock symbol change.

"We have spent decades building brands that challenge the status quo and deliver real value to customers," said Charlie Ergen, Founder, CEO, and Chairman of the Board, EchoStar Corporation. "Changing our stock ticker to ‘ECHO’ represents our growth from a pure-play satellite company to a global corporate leader with a diverse set of connectivity assets.”

EchoStar’s Legacy
EchoStar Communications Corporation was founded in 1980 selling C-band satellite dish systems to rural Americans. In 1995, after years of building a successful business, EchoStar opted to take its future to space, launching its first direct broadcast satellite to provide TV service nationwide. With this launch, DISH Network was born, delivering one industry-shaking innovation after another. In 2008, in recognition of this massive growth, the original company was officially renamed DISH Network and continued as a publicly traded company under the symbol "DISH." Concurrently, the critical satellite infrastructure and technology assets were separated into a new, independent publicly traded company named EchoStar Corporation, trading under the symbol "SATS."

Operating under its own mandate to connect the world, EchoStar expanded its global footprint by acquiring Hughes Network Systems in June 2011 and launching a series of advanced satellites to provide connectivity to enterprise, government, and consumer markets across the globe. In 2020, DISH completed its acquisition of Boost Mobile, accelerating the company’s growth into consumer wireless.

After years of operating as separate companies, EchoStar and DISH merged in December 2023, trading under a single stock ticker. Today’s announcement of EchoStar’s new ticker “ECHO” honors the company's original namesake—NASA’s pioneering Project Echo, the first communications satellite project—and reflects the future of EchoStar on earth, in space, and beyond. 

Additional Details for Shareholders
This transition to a new ticker symbol will have no impact on the corporation's legal name, its capital structure, or the established rights of its securityholders.

All existing stock certificates will stay valid and do not require exchange. Shares maintained in book-entry form or via financial institutions and brokers will be updated to show the new ticker symbol automatically.

About EchoStar Corporation
EchoStar Corporation is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.

©2026 EchoStar, Hughes, HughesNet, DISH and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corp.

EchoStar stock is among today’s weakest performers. Why is SATS stock falling? EchoStar owns a meaningful stake in SpaceX through its $17 billion spectrum deal, which included up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock. With the IPO approaching, that stake became a major catalyst and the stock surged.

Today's move is the reversal of that surge. Fast, event‑driven rallies often attract short‑term traders who lock in gains the next day, especially when the move is tied to a single headline rather than a broad shift in fundamentals.

Yesterday's Catalyst Still StandsThe pullback does not change why EchoStar rallied. EchoStar's stake in SpaceX could become far more valuable once the IPO prices. The company received its stock when SpaceX was valued at about $400 billion.

EchoStar also has a long‑term commercial partnership with SpaceX. Boost Mobile customers will gain access to Starlink Direct to Cell through EchoStar's cloud‑native 5G core, tying the company directly into satellite‑to‑phone connectivity.

Why SATS Is Down TodaySATS is seemingly falling due to the traders taking profits after Thursday's surge and reallocating cash toward the SpaceX IPO. The core catalyst remains intact, but near‑term flows have shifted as investors prepare for the main event.

SATS Stock: Critical Support And Resistance LevelsEchoStar has slipped back under its short‑term trend markers. The stock now trades 7.9% below its 20‑day simple moving average at $126.76 and 7.3% below its 50‑day simple moving average at $125.95, which turns both levels into potential "sell the bounce" zones. The longer‑term picture is still constructive, with shares 15.2% above the 200‑day simple moving average at $101.36 and the golden cross from July 2025 still intact.

Momentum looks reset rather than broken. RSI sits at 54.08, a neutral reading that follows the overbought stretch seen in January. RSI gauges how extended a move is, and a mid‑50s print usually signals that neither buyers nor sellers have full control.

Key Resistance: $137.50 — a nearby ceiling that lines up with a prior pivot zone and sits above the cluster of short‑term moving averages. Key Support: $116.50 — a near‑term floor around the current price area, where a failed hold could open the door to a deeper pullback toward the 100‑day and 200‑day trend region. SATS Shares Are SlidingSATS Price Action: EchoStar shares were down 6.41% at $119.92 at the time of publication on Friday, according to Benzinga Pro.

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After years of anticipation, privately held SpaceX finally has plans to go public. The Elon Musk-backed space exploration company filed with the Securities and Exchange Commission last month, and investors expect it to launch its initial public offering (IPO) in early June. Although SpaceX is reportedly allocating a large portion of the offering to retail investors, the opportunity for everyday investors to add exposure already exists.

Here are three publicly traded companies that already own -- or are set to own -- SpaceX stock: Alphabet (GOOG 2.23%) (GOOGL 1.95%), Bank of America (BAC +0.22%), and EchoStar(SATS 1.31%).

Image source: Getty Images.

Alphabet benefits from SpaceX in more ways than one Google and YouTube parent Alphabet first invested in SpaceX in 2015, investing $900 million in exchange for a 7% stake. It's since been reported that Alphabet owned 6% of SpaceX at the end of last year.

That's not all. The tech giant's close ties with the company could benefit it in more ways than one. Alongside having direct equity in SpaceX, Alphabet's Google Cloud unit has formed an infrastructure partnership with SpaceX's Starlink satellite communications unit.

Bank of America bought in years ago In 2018, BofA participated in a SpaceX equity funding round, investing $250 million. At the time, SpaceX had a valuation of around $30 billion. That would have given it less than 1% of SpaceX at the time.

EchoStar is set to get SpaceX shares EchoStar's best-known asset is its satellite television business, Dish Network. However, it and SpaceX have a deal that, if given regulatory approval, will sell spectrum to SpaceX and include shares of SpaceX going to EchoStar. EchoStar could end up with a 2.8% stake. If the deal is approved and SpaceX has a $2 trillion valuation, EchoStar's position would be worth around $56 billion.

EchoStar shares have rallied over fivefold in the past year. Investors are already aware of its space stock status. However, given its current market cap of $34 billion, compared to the potential value of its potential SpaceX stake, this satellite stock could have more room to run after the IPO.

Bank of America is an advertising partner of Motley Fool Money. Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

A satellite model is placed on EchoStar Satellite Services logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

May 11 (Reuters) - Telecommunications services firm EchoStar (SATS.O), opens new tab posted a larger-than-expected decline in pay-TV subscribers ​for the first quarter, as cord-cutting ‌pressures persist.

The results highlight ongoing consumer shifts away from traditional bundled television services ​toward cheaper, on-demand streaming platforms.

The Reuters Inside Track newsletter is your essential guide during the World Cup. Sign up here.

Pay-TV ​subscribers decreased by about 366,000 in ⁠the first quarter, compared with an ​expected decline of 336,433 subscribers, according ​to Visible Alpha estimates.

Revenue in the pay-TV segment, EchoStar's largest, came in at $2.29 billion, beating ​analysts' average estimate of $2.28 billion, according ​to data compiled by LSEG.

In March, EchoStar ‌entered ⁠into a debt restructuring deal with a group of Dish DBS' bondholders, part of the company's long effort to ​deal ​with heavy ⁠debt.

The company reported revenue of $3.67 billion, a touch above ​estimates of $3.66 billion. First-quarter ​loss ⁠narrowed to $146.9 million, from $202.7 million in the same period last year.

The results ⁠come ​after EchoStar was added to ​the S&P 500 in March.

Reporting by Anhata Rooprai ​in Bengaluru; Editing by Tasim Zahid

Our Standards: The Thomson Reuters Trust Principles., opens new tab

© Vladi333 / Shutterstock.com

If you have ever tried to buy “space exposure” through an ETF, you have probably noticed the same trick. Most space funds quietly fill the bucket with Boeing (NYSE:BA | BA Price Prediction), Lockheed Martin (NYSE:LMT), and Honeywell (NASDAQ:HON), then call it a day. You end up with aerospace primes when what you wanted was the companies actually launching rockets and beaming broadband from low Earth orbit. Procure Space ETF (NYSEARCA:UFO) is one of the few funds that skips the switcheroo.

The timing matters. SpaceX filed confidentially with the SEC on April 1, 2026 and is reportedly chasing a $1.75 trillion valuation. Polymarket traders are pricing roughly a 72% probability of a listing by the end of June and a 94% probability by year-end. When the largest private company in the sector becomes a public security, every comparable name on a fund manager’s screen reprices alongside it.

What UFO Actually Holds UFO tracks the S-Network Space Index and screens for companies that derive meaningful revenue from space-related activities. The top three positions are Planet Labs (NYSE:PL), EchoStar (NASDAQ:SATS), and Sirius XM (NASDAQ:SIRI) (Sirius maintains a fleet of satellites). The top 10 names make up about half of net assets, so this is a concentrated bet on a real industry, not a closet aerospace index.

By sector, the fund is 46% Media & Communications and 43% Industrials, which is just the prospectus way of saying satellite operators and rocket builders. About 71% sits in U.S. names. Japan, Canada, and Luxembourg round out a portfolio that reflects where the world’s space companies are actually domiciled.

The Return Engine UFO does not collect option premium or harvest yield. It owns operating businesses whose fortunes rise and fall with launch cadence, satellite broadband subscriber growth, and government contracts. Rocket Lab (NASDAQ:RKLB) has run about 249% over the past year, and AST SpaceMobile (NASDAQ:ASTS) is up roughly 159% over the same stretch. That is the math driving the fund.

Does the Strategy Actually Work? UFO is up about 127% over the trailing year and roughly 33% year to date, the kind of return profile that justifies a thematic fund’s existence. The five-year picture is messier. The ETF returned about 92% over five years, well behind the S&P 500 over the same window. Space spent most of 2021 through 2024 as a punchline before the launch economy and direct-to-cell satellite business started generating real revenue.

That is the honest read. UFO works when the space economy is in expansion mode. It struggles as a steady compounder and has historically failed to protect capital during cyclical drawdowns. The recent run suggests the underlying businesses have crossed from story stocks into operating companies, but you are still buying volatility wrapped in a ticker.

Where the Strategy Hurts Concentration and small fund size. With about $750 million in net assets and the top 10 holdings near half the portfolio, you will feel it if space startups slow down. Fees that compound against you. The 0.94% expense ratio is reasonable for a thematic product but punishing next to an S&P 500 fund at a few basis points. You are paying for access, not efficiency. SpaceX is the elephant outside the room. The biggest space company on Earth is still private. Until that changes, UFO owns the supporting cast, and whenever SpaceX prices, the index methodology will determine the eventual weight rather than investor enthusiasm. UFO makes sense as a 2-5% satellite position for investors who want genuine exposure to the launch and orbital broadband economy ahead of a potential SpaceX listing, while anyone treating it as a diversified core holding is buying a sector bet dressed up as a fund.

EchoStar shares are powering higher. Why is SATS stock surging? The approval removes the final regulatory barrier and confirms that EchoStar can now complete both sales, which together represent more than $40 billion in deal value according to the FCC.

FCC Approval Unlocks Two Large Spectrum DealsThe FCC authorized EchoStar to sell roughly 65 megahertz of nationwide spectrum to SpaceX for use in Starlink's direct to device service. This gives SpaceX its first nationwide stretch of exclusive spectrum for smartphone connectivity from orbit, something that required formal approval before the deal could close.

What The Approval Means For EchoStarThe FCC attached several conditions to the transactions, including strict buildout requirements for AT&T, new flexibility for SpaceX to use the spectrum across satellite and ground networks, and a requirement that EchoStar establish a multibillion‑dollar escrow fund for potential claims.

With these conditions in place, the agency concluded that the transfers promote more efficient spectrum use and strengthen competition across wireless and satellite markets.

EchoStar And The Trend That Refuses To Cool OffTechnically, the stock is extended, but that’s often what leadership looks like before it turns into exhaustion. EchoStar is trading 6.8% above its 20-day SMA of $125.03, 11.8% above its 50-day SMA ($119.45) and 46.8% above its 200-day SMA ($91.00). That stacked moving-average structure typically signals buyers are still in control on pullbacks, even if the chart is starting to feel crowded.

Here are some key levels:

Key Resistance: $137.50 — sitting right near the 52-week high area, where upside attempts can stall Key Support: $117.00 — a prior buyer-defense zone that also sits near the broader moving-average "catch-up" area SATS Shares Are Trending HigherSATS Price Action: EchoStar shares were up 3.05% at $133.32 at the time of publication on Wednesday. The stock is trading near its 52-week high of $137.44, according to Benzinga Pro.

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On May 20, 2026, EchoStar Corp SATS shares rose 3.8% to a current price of $141.80, reflecting a strong upward trend over the past year with a staggering increase of 539.9%. The stock has experienced significant volatility, with a 52-week high of $147.25 and a low of $14.90.

GF Value™ verdict: The current price is $141.80, significantly above the GF Value™ of $19.84, indicating it is 614.7% overvalued.GF Score™: With a score of 49/100, the stock is deemed average, suggesting it may not be a strong long-term investment.Most notable signal: Insider activity shows that insiders sold $15.5 million worth of stock in the last three months, indicating a lack of confidence from those closest to the company. Is SATS Overvalued or Undervalued? The current price of EchoStar Corp SATS at $141.80 is dramatically higher than the GF Value™ of $19.84, suggesting a substantial overvaluation of 614.7%. This stark difference highlights a significant margin of safety for potential investors, where the actual market price far exceeds the calculated intrinsic value. The GF Valuation label categorizes SATS as "Significantly Overvalued," posing risks for those looking to enter the stock at this elevated price level.

When a stock is significantly overvalued, it indicates that the market price may be unsustainable in the long term, potentially leading to a price correction. Investors should consider the implications of this overvaluation, particularly in a market where the stock has recently surged in price. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does SATS's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 430.7x 0.7x The current forward P/E ratio of EchoStar Corp SATS stands at a staggering 430.7x, which is significantly higher than its 5-year median P/E of 0.7x. This analysis reaffirms the GF Value™ verdict of overvaluation, as the stock is trading well above its historical valuation metrics. Such a high P/E ratio may indicate excessive market expectations that could be difficult to sustain in the future.

What Does SATS's GF Score™ Tell Us? Metric Rating GF Score™ 49/100 Financial Strength 3/10 Profitability 5/10 Growth 3/10 Valuation 1/10 Momentum 3/10 The GF Score™ of 49/100 indicates that EchoStar Corp SATS is performing at an average level across the evaluated criteria. The strongest area is profitability, rated at 5/10, suggesting some degree of operational efficiency. However, the weakest area is valuation, where SATS has a concerning rating of 1/10, consistent with its significant overvaluation as indicated by the GF Value™ assessment. The low scores in financial strength (3/10) and growth (3/10) further underscore potential risks for investors.

What Are Insiders Doing with SATS Stock? In the past three months, insiders have sold approximately $15.5 million worth of EchoStar Corp SATS stock, with no reported buying activity. This trend of insider selling can be a red flag, suggesting that those with the most intimate knowledge of the company's operations may lack confidence in its future performance. Such actions often indicate that insiders may anticipate challenges ahead or believe the stock is currently overvalued.

What This Means for Investors Based on the current valuations and the GF Value™ assessment, EchoStar Corp SATS is deemed significantly overvalued. The substantial gap between its market price and intrinsic value, compounded by poor financial strength and valuation scores, suggests caution for potential investors.

For the complete analysis, visit the EchoStar Corp SATS stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is SATS's GF Score™?

SATS's GF Score™ is 49/100, indicating an average performance across key investment metrics.

Is SATS overvalued or undervalued?

SATS is significantly overvalued, with a market price of $141.80 compared to a GF Value™ of $19.84.

What is SATS's P/E ratio?

The current P/E ratio for SATS is 430.7x, which is significantly above its 5-year median P/E of 0.7x, indicating a substantial overvaluation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Issued on behalf of Starfighters Space, Inc.

, /PRNewswire/ -- Equity Insider News Commentary — The looming SpaceX IPO has done something that almost no other capital markets event in a decade has managed: it has made the space sector mainstream investible. A Yahoo Finance segment that ran yesterday with ETF.com president Dave Nadig laid out the case directly, walking through the ETFs and broader public space exposure that stand to benefit from what is shaping up to be the largest IPO in history. Multiple ETF issuers are already gearing up. [1]

SpaceX confidentially filed its S-1 with the SEC on April 1, 2026, and its public registration is expected to land on EDGAR between May 18 and May 22. The targeted June Nasdaq listing aims to raise as much as US$75 billion at a US$1.75 trillion valuation. [2] That alone reshapes the comparable set for every publicly traded space name in the market today.

The sector backdrop is more than just one IPO. NASA announced a new Moon Base initiative in March. The Trump administration's Golden Dome missile defense program is in full procurement. The Department of War has expanded its hypersonic test budget. Commercial space stations, lunar landers, and microgravity research platforms — work that until recently lived inside a small handful of government programs — are now being executed by publicly traded companies posting record backlogs. Against that wave, one NYSE American–listed operator at Cape Canaveral made a move yesterday that drops it directly into a federal procurement opening.

A NASA RFI, a Falcon 50, and a Capability the U.S. Has Gone Without

Starfighters Space, Inc. (NYSE American: FJET) — the operator of what its own filings describe as the world's fastest fleet of commercial supersonic aircraft — announced a signed Memorandum of Understanding with Mu-G Technologies, LLC and a joint response to a NASA Armstrong Flight Research Center Request for Information for Parabolic Flight Services. The RFI targets companies that can rebuild the country's commercial microgravity capability — a capability the U.S. has gone without since the last domestic operator exited the market. [3]

Under the MOU, Starfighters will host Mu-G's Dassault Falcon 50 at the Midland International Air & Space Port in Texas, where the aircraft will be modified to conduct parabolic test flights and worked through FAA certification. Starfighters provides ground support, chase plane and data collection, expert pilot integration, and safety and regulatory alignment. [3]

The combined offering covers four flight environments at one site: microgravity from the Falcon 50, reduced gravity and hyper-gravity from the same parabolic profiles, and the supersonic regime from Starfighters' F-104s. The NASA RFI specifically asks for "novel or non-traditional flight platforms." [3]

Microgravity research is increasingly where real commercial work happens. Pharma and biotech companies use the absence of gravity-driven sedimentation to grow purer protein crystals and study drug mechanisms. Materials scientists use reduced gravity to study how alloys solidify without convection currents. Defense and aerospace engineers use parabolic profiles to test sensors, fluid systems, and components before committing to a launch. U.S. researchers who need that environment today have to look overseas or wait — exactly the gap NASA is asking industry to fill.

Starfighters CEO Tim Franta and Mu-G founder Robert S. Ward have known each other for nearly thirty years through the Space Coast aerospace community. Franta took over as CEO in February 2026. [4] Starfighters already flies revenue missions for Lockheed Martin, Space Florida, and the U.S. Air Force Research Laboratory. [5] On May 7, it added two senior Blue Origin engineers to lead STARLAUNCH operations. [6]

Four Other Names Riding the Same Wave

Karman Holdings Inc. (NYSE: KRMN) — A leader in critical next-generation system solutions for space, hypersonics, and missile defense. On May 12, Karman reported record Q1 2026 revenue of US$151.2 million, up 51.0% year-over-year, with record quarterly adjusted EBITDA of US$44.8 million (29.6% margin) and a record backlog of US$1.0 billion, up 61% year-over-year. The Space and Launch segment led growth at US$43.9 million, with the company introducing a new Maritime Defense Systems end market in the quarter. Management raised full-year 2026 guidance to US$720–US$735 million in revenue and US$208.5–US$219.5 million in adjusted EBITDA. [7][8]

MDA Space Ltd. (NYSE: MDA) — A trusted mission partner to the global space industry, dual-listed on the NYSE and TSX. On May 7, MDA Space reported Q1 2026 revenue of CAD$464 million, up 32% year-over-year, with a backlog of CAD$3.7 billion providing visibility into 2026 and beyond. The company ended the quarter with a CAD$299 million net cash position and CAD$1.2 billion in total liquidity. In April, MDA launched MDA MIDNIGHT™, a space-control platform aimed at protecting critical orbital infrastructure, while in March it announced a Canadian Defence Investment Agency contract for three Ground-Based Optical observatories. CEO Mike Greenley cited a CAD$40 billion pipeline across commercial and government customers. [9]

EchoStar Corporation (Nasdaq: SATS) — Holds an equity stake in SpaceX acquired through prior spectrum transactions, now widely flagged as one of the most direct public proxies for the SpaceX IPO repricing thesis. On May 11, EchoStar reported Q1 2026 revenue of US$3.67 billion and confirmed that the FCC's Wireless Telecommunications Bureau and Space Bureau approved its approximately US$40 billion sale of wireless spectrum to AT&T and SpaceX, with EchoStar to continue operating Boost Mobile via an MVNO partnership. [10][11] On May 13, New Street Research initiated coverage with a Buy rating and a US$161 price target, calling EchoStar "the SpaceX play, for now." [12]

Viasat, Inc. (Nasdaq: VSAT) — A global satellite communications provider with annual revenue of approximately US$4.56 billion. Viasat is one of five companies awarded initial contracts under the U.S. Space Force's Protected Tactical SATCOM-Global (PTS-G) program, which carries a ceiling of US$4 billion in IDIQ value across awardees for resilient, anti-jam tactical communications. [13] On May 7, Viasat announced a cooperation agreement with activist investor Carronade Capital Management, adding two new independent directors to the Board's Strategic Review Committee. On May 13, New Street Research initiated coverage with a Buy rating and a US$100 price target, citing Viasat's defense communications position as a SpaceX-IPO-adjacent beneficiary. [12]

The Bottom Line

The Yahoo Finance segment captured what the market has already started pricing: when the anchor of the entire ecosystem is going public at a US$1.75 trillion valuation, every publicly traded company that does real work in the same lane gets re-rated. Starfighters Space, Inc. (NYSE American: FJET) is one of the few publicly traded operators that owns a flying fleet of supersonic aircraft today, has revenue from blue-chip aerospace customers, and is now in the running for a NASA-defined commercial microgravity capability that does not currently exist domestically. The Mu-G MOU is the next concrete step. As always, investors should do their own research and consult a qualified financial advisor before making any decision.

For more information on Starfighters Space, Inc., visit: https://equity-insider.com/fjet-landing

Contact:
Equity Insider
[email protected]
604-265-2873

Sources:

[1] https://finance.yahoo.com/video/spacex-ipo-set-bolster-space-180000761.html
[2] https://www.ibtimes.com/spacex-files-largest-ipo-ever-while-absorbing-494-billion-loss-its-xai-merger-3802915
[3] https://ir.starfightersspace.com/news-events/press-releases
[4] https://www.stocktitan.net/sec-filings/FJET/8-k-starfighters-space-inc-reports-material-event-3234f73ec472.html
[5] https://finance.yahoo.com/news/starfighters-space-demonstrates-commercial-supersonic-130000515.html
[6] https://finance.yahoo.com/sectors/technology/articles/starfighters-space-adds-blue-origin-130000983.html
[7] https://www.sec.gov/Archives/edgar/data/0002040127/000119312526219495/krmn-ex99_1.htm
[8] https://www.stocktitan.net/sec-filings/KRMN/8-k-karman-holdings-inc-reports-material-event-0e4e3b7a2b1a.html
[9] https://www.sec.gov/Archives/edgar/data/0001857047/000110465926056789/tm2613608d3_ex99-1.htm
[10] https://stockanalysis.com/stocks/sats/
[11] https://blockonomi.com/echostar-sats-stock-surges-on-spacex-ipo-speculation-and-40b-fcc-spectrum-deal/
[12] https://stocktwits.com/news-articles/markets/equity/spacex-ripple-effect-rklb-sats-vsat-top-space-stock-bets/cZX1hH7Re1b
[13] https://www.investing.com/news/company-news/viasat-secures-contract-for-us-space-force-satellite-program-93CH-4277193

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Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed by USA News Group on behalf of MIQ. MIQ has been paid a fee for Starfighters Space, Inc. advertising and digital media from Creative Direct Marketing Group ("CDMG"). There may be 3rd parties who may have shares of Starfighters Space, Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this article or email as the basis for any investment decision. The owner/operator of MIQ currently owns shares of Starfighters Space, Inc. that were purchased in the open market and reserves the right to buy and sell, and will buy and sell shares of Starfighters Space, Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company; no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been reviewed and approved on behalf of Starfighters Space, Inc. by CDMG; this is a digital media distribution.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our article is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

FORWARD-LOOKING STATEMENTS:

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that demand for U.S. aerodynamic and hypersonic test infrastructure will continue to accelerate; that Starfighters Space, Inc.'s F-104 platform will provide testing capabilities at the cadence and conditions described; that the Company's expansion to Midland, Texas will proceed as planned; that the Company will retain and grow its existing customer base; that comparable companies will perform as expected. The forward-looking information contained herein is provided for the purpose of assisting the reader to understand the Company's business, however such information may not be appropriate for other purposes. Risks that could change or prevent these statements from coming to fruition include changing governmental laws and policies; the Company's ability to obtain and retain necessary licensing; political and competitive risks; failure of forecasts and assumptions to come to fruition; and other unforeseen circumstances. The publisher of this article does not take responsibility for the accuracy of any statements made by the issuing company or its representatives. Readers are cautioned not to place undue reliance on these forward-looking statements, and the publisher undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.

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SpaceX will be one of the most sought-after initial public offerings (IPOs) in Wall Street's history. However, with a valuation expected at close to $2 trillion, retail investors may struggle to buy in early enough to capture meaningful upside. That makes EchoStar (SATS 1.31%) an unusual way to get exposure to SpaceX before the rocket and satellite company starts selling stock.

Image source: Getty Images

EchoStar agreed to sell 65 megahertz of wireless spectrum to SpaceX, providing support for SpaceX's Starlink to offer direct-to-device service (connecting regular phones directly to satellites). The deal was first valued at about $17 billion, but amended terms could lift the total to about $20 billion, including up to $11 billion in SpaceX stock valued at $212 per share.

In May 2026, the FCC approved EchoStar's broader $40 billion spectrum sale to SpaceX and AT&T. These regulatory approvals have brought EchoStar closer to receiving cash and SpaceX stock.

EchoStar's SpaceX stake is changing the story EchoStar is not a clean alternative to SpaceX. The company's legacy satellite TV business remains under pressure, with pay-TV subscribers declining by about 366,000 in the first quarter of fiscal 2026 (ending March 31, 2026). However, EchoStar has also reduced its net loss and improved its operating income before depreciation and amortization year over year. These improvements are giving investors a reason to look beyond the shrinking pay-TV business toward its spectrum proceeds and the SpaceX equity stake.

Today's Change

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Current Price

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115.24

The upside now depends not only on its core business, but also on the value of its SpaceX stock, the cash it receives from spectrum sales, how much debt it can repay, and how much money is left after taxes and costs associated with shutting down parts of its own wireless network. Barron's estimates the SpaceX stake could be worth about $31 billion if SpaceX lists at a $1.75 trillion valuation.

EchoStar is affected by weak legacy businesses and execution risk. Yet it is still a high-risk, high-reward way to gain exposure to SpaceX before the IPO.

Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Zacks #1 Rank Top Movers for Jun 10, 2026 Zacks #1 Rank Top Movers Zacks #1 Rank Top Movers for 06/11/26 Value Growth Momentum VGM Income Company Symbol Price %Chg Alto Ingred... ALTO 5.66 +7.60% Cenovus Ene... CVE 28.37 +2.60% LyondellBas... LYB 65.15 +2.37% Crescent En... CRGY 11.71 +2.36% CrossAmeric... CAPL 22.46 +2.00% Zacks #1 Rank Top Movers7/16 The Zacks #1 Rank List is the best place to start your stock search each morning. It's made up of the top 5% of stocks with the most potential. Each weekday, you can quickly see the Zacks #1 Rank Top Movers from Value to Growth, Momentum and Income, even VGM Score.

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Zacks #1 Rank Additions Company (Symbol) Report Caterpillar (CAT) ANALYST REPORT Hewlett Packard (HPE) ANALYST REPORT H&R Block (HRB) ANALYST REPORT Ciena (CIEN) ANALYST REPORT DaVita (DVA) ANALYST REPORT Investment Ideas Earnings Analysis More Analysis Reported Earnings Surprises View All Positive Negative Symbol Time Expected Reported %Surprise NAVN 16:06 -0.01 0.08 +900.00 SFIX 16:05 -0.06 -0.01 +83.33 ANIX 16:19 -0.10 -0.07 +30.00 ATEX 16:52 -0.56 -0.41 +26.79 OXM 16:10 1.27 1.39 +9.45 EPS Positive Surprises for Jun 10, 2026

Symbol Time Expected Reported %Surprise PRE 08:37 -0.49 -0.56 -14.29 EPS Negative Surprises for Jun 10, 2026

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SATS' Wireless and Broadband gains lifted OIBDA and narrowed losses, even as Pay-TV and broadband subscriber declines persist.