Bessemer Group Inc. grew its stake in EchoStar Corporation (NASDAQ:SATS – Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,061 shares of the communications equipment provider’s stock after acquiring an additional 5,066 shares during the period. Bessemer Group Inc.’s holdings in EchoStar were worth $13,938,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of EchoStar by 6.0% in the first quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock valued at $672,000 after purchasing an additional 1,511 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in EchoStar by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock worth $1,854,000 after buying an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in EchoStar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock valued at $8,479,000 after buying an additional 24,749 shares during the last quarter. Strs Ohio acquired a new stake in shares of EchoStar in the 1st quarter valued at $128,000. Finally, Hsbc Holdings PLC increased its stake in shares of EchoStar by 18.6% in the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 2,119 shares during the period. 33.62% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity In other news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the sale, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at $104,741,593. This represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 55.90% of the company’s stock.
EchoStar Stock Performance Shares of EchoStar stock opened at $103.80 on Friday. The firm has a fifty day moving average of $116.26 and a two-hundred day moving average of $117.07. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. EchoStar Corporation has a 52 week low of $24.15 and a 52 week high of $147.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.
EchoStar (NASDAQ:SATS – Get Free Report) last released its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company posted ($0.71) EPS.
Wall Street Analysts Forecast Growth Several equities analysts have recently issued reports on SATS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Williams Trading set a $155.00 price objective on EchoStar in a research report on Monday, May 18th. TD Cowen boosted their price objective on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, New Street Research set a $165.00 target price on shares of EchoStar in a research note on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $137.71.
Read Our Latest Report on SATS
EchoStar Profile (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.
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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.
EchoStar Corp (NASDAQ:SATS) is down 4.8% at $120.10, paring some of yesterday's 11.2% rally as investors react to SpaceX's historic initial public offering (IPO). The world's largest initial public offering (IPO) begins trading today under the ticker SPCX after raising $75 billion at $135 per share, and EchoStar --though it owns some of SpaceX stock -- is feeling the pain.
Sector peers Rocket Lab (RKLB) and AST SpaceMobile (ASTS) are also in the red, down 6.5% and 8.5%, respectively, at last look.
SATS has shed 13% since its May 18 record high of $147.25, though support from the 150-day moving average captured the pullback. Despite today's drop, the stock has still surged 600% over the last 12 months and is up 16.5% in 2026.
Options traders have been firmly bullish. EchoStar's 50-day call/put volume ratio of 6.96 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and Nasdaq OMX PHLX (PHLX) ranks higher than 91% of readings from the past year, signaling a much stronger-than-usual appetite for calls.
Today is more of the same. At last look, 21,000 calls have changed hands, volume that's four times the average intraday amount. The weekly 6/12 130-strike call is the most popular, while the June 150 call is also seeing notable activity.
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.
Image: photo_gonzo/Shutterstock.com
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EchoStar (SATS 10.96%), a global provider of pay-TV services, broadband satellite technologies, and wireless communication services, closed Friday at $114.16, down 10.90%. The stock declined as profit-taking followed recent “SpaceX proxy” gains and renewed credit-risk concerns surfaced after a missed interest payment by its DISH DBS unit. Investors will be watching liquidity developments and spectrum-monetization progress next.
The company’s trading volume reached 50 million shares, which is about 542% above compared with its three-month average of 7.8 million shares.
EchoStar went public in 2008 and has grown 250% since its IPO.
How the markets moved todayS&P 500 (^GSPC +0.50%) added 0.50% to finish Friday at 7,431.46, while the Nasdaq Composite (^IXIC +0.31%) rose 0.31% to close at 25,888.84. Among telecom services, industry peers Iridium Communications (IRDM 5.15%) closed at $47.32 (-5.19%) and Motorola Solutions (MSI +0.46%) finished at $412.25 (+0.46%), reflecting mixed sentiment across communications names.
What this means for investorsEchoStar shares declined as renewed credit and liquidity concerns replaced recent gains driven by SpaceX-related speculation. The company reported that its DISH DBS subsidiary chose not to pay approximately $183 million in interest due June 1, triggering a default with a 30-day grace period. EchoStar stated this decision aims to preserve liquidity while awaiting proceeds from its AT&T spectrum transaction.
The timing of the spectrum-sale proceeds is now critical for EchoStar’s stock performance. While SpaceX-linked equity exposure has attracted speculative interest, investors are watching whether AT&T proceeds will arrive in time to resolve the DISH DBS payment issue. First-quarter results showed year-over-year revenue declines and ongoing pay-TV subscriber losses, which are increasing pressure on management to convert spectrum value into balance-sheet relief as the core business faces continued challenges.
Eric Trie 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.
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.
ENGLEWOOD, Colo., May 11, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation (NASDAQ: SATS) reported first quarter 2026 total revenue of $3.67 billion, compared to $3.87 billion in 2025. Net loss attributable to EchoStar in the first quarter of 2026 totaled $146.89 million, compared to $202.67 million in the year-ago quarter. Diluted loss per share was $0.51 in the first quarter of 2026, compared to $0.71 in 2025.
Pay-TV
Net pay-TV subscribers decreased approximately 366,000 in the first quarter of 2026, compared to a decrease of approximately 381,000 in the year-ago quarter.The company closed the quarter with 6.63 million pay-TV subscribers, including 4.84 million DISH TV subscribers and 1.79 million Sling TV subscribers. Retail Wireless
Retail wireless subscribers increased by approximately 16,000 in the first quarter of 2026, compared to an increase of 150,000 in the year-ago quarter.The company closed the quarter with 7.53 million wireless subscribers. Broadband and Satellite Services
Broadband subscribers decreased by approximately 58,000 in the first quarter of 2026, compared to a decrease of 30,000 in the year-ago quarter.The company closed the quarter with 681,000 broadband subscribers. Additional Details
Detailed financial data and other information are available in EchoStar’s Form 10-Q for the quarter ending March 31, 2026, filed with the Securities and Exchange Commission.
Please note that EchoStar will not host a live conference call to discuss its first quarter 2026 financial results. All financial results and related materials are available on EchoStar's investor relations website at ir.echostar.com.
Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended March 31, 2026 and 2025 (all U.S. GAAP amounts reference results from operations):
For the Three Months Ended March 31, 2026 2025 (In thousands)Revenue Pay-TV$2,294,264 $2,538,727 Wireless 962,491 969,668 Broadband and Satellite Services 329,656 370,658 Other 90,983 62,297 Eliminations (9,905) (71,592)Total$3,667,489 $3,869,758 Net Income (loss) attributable to EchoStar$(146,885) $(202,669) OIBDA Pay-TV$527,433 $729,873 Wireless 13,717 (73,707)Broadband and Satellite Services 94,124 85,703 Other (75,990) (324,481)Eliminations 164 (17,187)Total$559,448 $400,201 Adjusted OIBDA Pay-TV$527,433 $729,873 Wireless 13,717 (73,707)Broadband and Satellite Services 94,124 85,703 Other (142,149) (324,481)Eliminations 164 (17,187)Total$493,289 $400,201 Purchases of property and equipment (including capitalized
interest related to regulatory authorizations) Pay-TV$88,128 $62,388 Wireless 28,833 — Broadband and Satellite Services 11,610 32,103 Other 4,864 283,993 $133,435 $378,484 Reconciliation of GAAP to Non-GAAP Measurement:
Pay-TV Wireless Broadband and
Satellite Services Other Eliminations Consolidated TotalFor the Three Months Ended March 31, 2026 (In thousands)Segment operating income (loss) $471,567 $(35,782) $44,184 $(87,295) $173 $392,847 Depreciation and amortization 55,866 49,499 49,940 11,305 (9) 166,601 OIBDA 527,433 13,717 94,124 (75,990) 164 559,448 Impairments and other — — — (66,159) — (66,159)Adjusted OIBDA $527,433 $13,717 $94,124 $(142,149) $164 $493,289 For the Three Months Ended March 31, 2025 Segment operating income (loss) $653,430 $(93,894) $(19,195) $(628,410) $(63) $(88,132)Depreciation and amortization 76,443 20,187 104,898 303,929 (17,124) 488,333 OIBDA 729,873 (73,707) 85,703 (324,481) (17,187) 400,201 Impairments and other — — — — — — Adjusted OIBDA $729,873 $(73,707) $85,703 $(324,481) $(17,187) $400,201 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: SATS) 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.
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 March 31, December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents$1,343,780 $1,883,074 Current restricted cash, cash equivalents and marketable investment securities — 175,838 Marketable investment securities 172,323 1,100,891 Trade accounts receivable, net of allowance for credit losses of $83,611 and $79,590, respectively 1,258,708 1,273,849 Inventory 395,123 380,647 Prepaids and other assets 359,657 284,194 Other current assets 19,849 34,678 Total current assets 3,549,440 5,133,171 Noncurrent Assets: Restricted cash, cash equivalents and marketable investment securities 176,759 176,203 Property and equipment, net 2,200,571 2,243,515 Regulatory authorizations, net 34,550,802 34,548,952 Other investments, net 208,655 194,046 Operating lease assets 217,635 214,549 Intangible assets, net 51,236 54,413 Other noncurrent assets, net 420,594 451,506 Total noncurrent assets 37,826,252 37,883,184 Total assets$41,375,692 $43,016,355 Liabilities and Stockholders’ Equity (Deficit) Current Liabilities: Trade accounts payable$579,907 $541,706 Deferred revenue and other 620,733 639,173 Accrued programming 1,137,147 1,224,222 Accrued interest 626,229 309,462 Other accrued expenses and liabilities 2,564,432 2,327,587 Current portion of debt, finance lease and other obligations 6,237,306 7,321,269 Total current liabilities 11,765,754 12,363,419 Long-Term Obligations, Net of Current Portion: Long-term debt, finance lease and other obligations, net of current portion 18,015,274 18,658,602 Deferred tax liabilities, net 575,102 598,590 Operating lease liabilities 3,985,604 4,137,269 Long-term deferred revenue and other long-term liabilities 1,356,555 1,446,477 Total long-term obligations, net of current portion 23,932,535 24,840,938 Total liabilities 35,698,289 37,204,357 Commitments and Contingencies Stockholders’ Equity (Deficit): Class A common stock, $0.001 par value, 1,600,000,000 shares authorized,
159,722,874 and 159,266,457 shares issued, 157,933,854 and 157,477,437
shares outstanding, respectively 160 159 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 8,886,945 8,875,937 Accumulated other comprehensive income (loss) (181,786) (183,188)Accumulated earnings (deficit) (3,025,628) (2,878,743)Treasury stock, at cost, 1,789,020 shares (48,512) (48,512)Total EchoStar stockholders’ equity (deficit) 5,631,310 5,765,784 Noncontrolling interests 46,093 46,214 Total stockholders’ equity (deficit) 5,677,403 5,811,998 Total liabilities and stockholders’ equity (deficit)$41,375,692 $43,016,355 ECHOSTAR CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited) For the Three Months Ended March 31, 2026 2025 Revenue: Service revenue$3,375,540 $3,606,156 Equipment sales and other revenue 291,949 263,602 Total revenue 3,667,489 3,869,758 Costs and Expenses (exclusive of depreciation and amortization): Cost of services 1,998,268 2,432,198 Cost of sales - equipment and other 536,907 439,508 Selling, general and administrative expenses 639,025 597,851 Depreciation and amortization 166,601 488,333 Impairments and other (66,159) — Total costs and expenses 3,274,642 3,957,890 Operating income (loss) 392,847 (88,132) Other Income (Expense): Interest income 29,409 65,529 Interest expense, net of amounts capitalized (592,660) (286,055)Other, net 2,184 41,390 Total other income (expense) (561,067) (179,136) Income (loss) before income taxes (168,220) (267,268)Income tax (provision) benefit, net 20,920 63,987 Net income (loss) (147,300) (203,281)Less: Net income (loss) attributable to noncontrolling interests, net of tax (415) (612)Net income (loss) attributable to EchoStar$(146,885) $(202,669) Weighted-average common shares outstanding - Class A and B common stock: Basic 289,014 286,513 Diluted 289,014 286,513 Earnings per share - Class A and B common stock: Basic net income (loss) per share attributable to EchoStar$(0.51) $(0.71)Diluted net income (loss) per share attributable to EchoStar$(0.51) $(0.71) ECHOSTAR CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) For the Three Months Ended March 31, 2026 2025 Cash Flows From Operating Activities: Net income (loss)$(147,300) $(203,281)Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation and amortization 166,601 488,333 Impairments and other (66,159) — Realized and unrealized losses (gains) and impairments on investments and other 2,737 (35,769)Non-cash, stock-based compensation 10,233 7,609 Interest expense paid in kind on long-term debt — 57,073 Deferred tax expense (benefit) (28,582) (68,902)Changes in allowance for credit losses 4,021 (1,987)Change in long-term deferred revenue and other long-term liabilities (60,073) (2,772)Other, net 79,253 (5,446)Changes in operating assets and operating liabilities,net 277,553 (28,103)Net cash flows from operating activities 238,284 206,755 Cash Flows From Investing Activities: Purchases of marketable investment securities (577,181) (1,807,779)Sales and maturities of marketable investment securities 1,521,282 553,812 Purchases of property and equipment (133,435) (258,427)Capitalized interest related to regulatory authorizations — (120,057)Other, net 38,429 (4,268)Net cash flows from investing activities 849,095 (1,636,719) Cash Flows From Financing Activities: Repayment of debt, finance lease and other obligations (5,654) (24,671)Redemption and repurchases of debt (1,787,082) (289,383)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 7,513 2,534 Other, net 1,727 (31,792)Net cash flows from financing activities (1,783,496) (331,847) Effect of exchange rates on cash and cash equivalents (240) 1,714 Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (696,357) (1,760,097)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$1,485,798 $2,833,707
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.
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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
EchoStar (SATS - Free Report) came out with a quarterly loss of $0.33 per share versus the Zacks Consensus Estimate of a loss of $0.87. This compares to a loss of $0.71 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +62.21%. A quarter ago, it was expected that this seller of set-top boxes and provider of satellite services to Dish Network would post a loss of $0.85 per share when it actually produced a loss of $1.03, delivering a surprise of -21.18%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
EchoStar, which belongs to the Zacks Satellite and Communication industry, posted revenues of $3.67 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.13%. This compares to year-ago revenues of $3.87 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
EchoStar shares have added about 17% since the beginning of the year versus the S&P 500's gain of 8.1%.
What's Next for EchoStar?While EchoStar has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for EchoStar was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.80 on $3.6 billion in revenues for the coming quarter and -$2.51 on $14.42 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Satellite and Communication is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Satellogic Inc. (SATL - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 12.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +68.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Satellogic Inc.'s revenues are expected to be $6.44 million, up 90% from the year-ago quarter.
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.
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
WASHINGTON, May 12 (Reuters) - The U.S. Federal Communications Commission said Tuesday it approved EchoStar's $40 billion sale of wireless spectrum to SpaceX and AT&T because the move would boost connectivity across the country.
EchoStar is selling approximately 50 megahertz of its nationwide spectrum to AT&T for its 5G network for $23 billion, including 30 MHz of mid-band spectrum and 20 MHz of low-band spectrum. EchoStar is selling 65 megahertz of its spectrum to SpaceX for $17 billion to boost Starlink’s next-gen device to device offering.
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AT&T and EchoStar will create a hybrid Mobile Virtual Network Operator arrangement that ensures the continued viability of Boost Mobile, the FCC said.
SpaceX is gaining access to exclusive-use spectrum for a Starlink device-to-device service and other offerings. The FCC said AT&T’s low-band spectrum will expand coverage across the United States, especially in rural and underserved areas.
In June, President Donald Trump, opens new tab prodded EchoStar, parent of Dish TV, and FCC Chairman Brendan Carr to reach a deal over the company's wireless spectrum licenses. U.S. satellite TV provider DirecTV, opens new tab terminated its agreement to acquire EchoStar's satellite television business in 2024 over a failed debt-exchange offer.
The FCC is also granting waivers for SpaceX to address convergence of wireless and satellite broadband. The announcement allows SpaceX to use its new spectrum flexibly for terrestrial, space-based and hybrid network architectures.
The FCC also said it is requiring AT&T to build its network years faster than the company originally requested and the FCC’s rules ordinarily require for builds after auction.
The FCC is requiring EchoStar to establish an escrow account of $2.4 billion that would cover any amounts that Echostar may eventually owe in connection with disputes over work under the licenses.
The FCC said it had received public comments that EchoStar has indicated it will not pay companies for construction of a new 5G network, including leasing of space on towers and rooftops that it was required to undertake as a license condition.
The FCC said it would allow courts and other bodies to adjudicate the issues and the escrow funds would potentially cover any obligations Echostar may ultimately owe.
Echostar said it appreciated the approvals but said, "These approvals come with an unprecedented involuntary escrow condition. We are analyzing this requirement and evaluating next steps."
Reporting by David Shepardson and Christian Martinez; Editing by David Ljunggren and Cynthia Osterman
Our Standards: The Thomson Reuters Trust Principles., opens new tab
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.
Image: photo_gonzo/Shutterstock.com
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FCC Chairman Brendan Carr joins ‘Squawk on the Street' to discuss the agency's approval of EchoStar's $40 billion sale of wireless spectrum to AT&T and SpaceX, the ongoing dispute with Disney, and more.
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].
, /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
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a digital media distribution and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. 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 newsletter 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.
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.
, /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
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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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/spacexs-trillion-dollar-ipo-is-turning-the-space-sector-into-the-trade-of-2026--here-are-five-names-already-moving-on-it-302778910.html
EchoStar stock has doubled since September, when it swapped some of its wireless spectrum for a 2% stake in Elon Musk’s SpaceX, closing the week at $125. TD Cowen analyst Gregory Williams raised his price target to $155 from $129 a share on May 17. EchoStar sold the spectrum to SpaceX for $11.1 billion of SpaceX stock valued at $212 a share, which Barron’s estimates at 52 million SpaceX shares.
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.
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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.
Short sellers are piling into a wide-ranging group of names, with the latest Benzinga Pro data showing elevated bearish positioning across 10 stocks spanning energy, crypto, AI and enterprise software.
PATH stock is heavily shorted. See the chart and price action here. High-Short-Interest StandoutsBelow are the top 10 most heavily shorted stocks (market caps above $2 billion, average 14‑day volume above 5 million and free floats above 5 million) based on data from Benzinga Pro as of May 28, 2026:
Closer LookVenture Global’s 86.10% short interest is the defining data point of this screen — nearly double the next name on the list.
The Louisiana-based LNG exporter, which went public in early 2025 at a $31-plus billion market cap, has been a lightning rod for skeptics who doubt its ability to fulfill long-term supply contracts and manage execution risk at its Calcasieu Pass and CP2 facilities.
The stock's $31.34 billion market cap and 6.25 million shares of daily volume mean any bullish catalyst could generate an outsized short squeeze.
Notably, several of these names are already moving against the bears on Thursday, with Bitdeer up 14.74%, Figma up 8.41% and UiPath gaining 6.66% on the session.
With short interest this elevated across the group, any sustained upside momentum or positive macro catalyst could force rapid covering and accelerate those moves further.
Image: Dave Hoeek / Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
A SPECIAL WELCOME GIFT FROM ZACKS.COM Zacks' 7 Strongest Buys for June, 2026 See our "best of the best" short-term stocks. Hand-picked from 220 new Strong Buys, they could be the most profitable stocks you own over the next 90 days. Recent picks have climbed as much as +97.3% within 30 days. Our new recommendations may soar just as high.
A SPECIAL WELCOME GIFT FROM ZACKS.COM Zacks' 7 Strongest Buys for June, 2026 See our "best of the best" short-term stocks. Hand-picked from 220 new Strong Buys, they could be the most profitable stocks you own over the next 90 days. Recent picks have climbed as much as +97.3% within 30 days. Our new recommendations may soar just as high. Today's market dip makes now an ideal time to get in.
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When Will SpaceX Show Up in Your Portfolio? Major index providers are rolling out new "fast entry" rules for blockbuster IPOs. The Nasdaq-100 has already reduced its waiting period for inclusion from three months to just 15 trading days.
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Don't Be Fooled: Today's CPI Is a Buy Signal in Disguise When we actually look at what the Fed cares about, the picture inverts completely. Zacks Strategist Bryan Hayes has the details for us.
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Best Cheap Stocks to Buy Under $10 for June 2026 Stocks priced under $10 can present appealing entry points for investors seeking outsized returns. Here's our list of the best cheap stocks right now.
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#5 Rank Bear of the Day Builders FirstSource (BLDR) Quarterly results have largely skewed sentiment around BLDR, with the company falling short of the Zacks Consensus EPS estimate by double-digit percentages in back-to-back releases.
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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SpaceX's initial public offering (IPO) may already be creating wealth even before public investors buy a single share. According to Reuters, the company is targeting a valuation of roughly $1.75 trillion, up sharply from the $1.25 trillion combined valuation assigned after its merger with xAI in February 2026. As anticipation builds for what could become the biggest IPO ever, investors are increasingly seeking indirect ways to gain exposure before the listing.
Here are three ways to get indirect exposure to this rocket and satellite company.
Image source: Getty Images.
1. Alphabet Alphabet (GOOG 2.23%) (GOOGL 1.95%) may be one of the cleanest blue chip ways to get indirect exposure to SpaceX before its expected IPO. According to a recent Alaska regulatory filing, the company held a 6.11% stake in SpaceX at the end of 2025. While Alphabet does not disclose the stake as a separate line item in its own filings, the position has most likely been diluted from Alphabet's (then called Google) reported original stake of nearly 7% in 2015. According to Bloomberg, Alphabet's stake is now close to 5% after SpaceX's merger with xAI. At a $1.75 trillion valuation, even a 5% stake would amount to almost $87.5 billion.
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Alphabet's non-marketable securities also increased from around $68.7 billion at the end of fiscal 2025 to about $106.9 billion at the end of the first quarter of fiscal 2026. The company also reported $36.9 billion of net equity securities gains, primarily from unrealized gains on its private investments. Although Alphabet does not report how much of that gain came from revaluation of SpaceX's stake ahead of the IPO, the numbers show why the company's private-company investments cannot be ignored.
Yet, against Alphabet's more than $4.5 trillion market capitalization, SpaceX appears more like a high-value strategic investment than the core thesis. Alphabet's stock will still be driven mainly by Google Search, YouTube, Google Cloud, AI spending, and antitrust risk.
2. EchoStar EchoStar (SATS 1.31%) may be the more aggressive, but riskier, way to get indirect exposure to SpaceX before the IPO. Unlike Alphabet, EchoStar does not have an investment stake in SpaceX. Instead, the company has entered a deal to sell 65 megahertz of wireless spectrum to the rocket and satellite network company. The transaction was initially valued at about $17 billion. However, recently, total deal consideration increased to $20 billion, including up to $11 billion payable in SpaceX stock valued at about $212 per share.
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If SpaceX goes public at a much higher valuation than the deal assumes, EchoStar's share price may start reflecting the value of the SpaceX stock it is set to receive later. Barron's estimates that EchoStar's future SpaceX stock component could amount to roughly 52 million shares. At a $1.75 trillion SpaceX valuation, EchoStar's SpaceX equity could be worth about $31 billion. That could make EchoStar more than a distressed telecom stock. It could also become a public-market route to SpaceX's future stock value.
However, investing in EchoStar is not without risks. The company has completed the first step of the spectrum sale, but the SpaceX stock component is still tied to the deal's final closing, targeted for Nov. 30, 2027. The Federal Communications Commission (FCC) approved EchoStar's SpaceX spectrum transaction, as well as its separate 50-megahertz spectrum sale to AT&T in May. This reduced a major regulatory risk around the deal, although it did not eliminate closing risk. SpaceX may also have the option to complete the deal earlier, which could allow EchoStar to receive the SpaceX stock before the current November 2027 target.
The AT&T transaction is also critical, as the $23 billion spectrum deal gives EchoStar a major cash source. EchoStar has also warned that it may not be able to meet its obligations over the next 12 months without proceeds from the transactions or additional financing. That makes EchoStar a very different kind of SpaceX play. The upside could be significant if the spectrum sale deals close and SpaceX's valuation rises, but investors are still taking on substantial risk in a debt-heavy telecom stock.
3. ERShares Private-Public Crossover ETF The ERShares Private-Public Crossover ETF (XOVR 1.61%) may be one of the most direct exchange-traded-fund (ETF)-based ways to get exposure to SpaceX before its expected IPO. XOVR is designed to combine public growth stocks with select private-company exposure inside a daily traded exchange-traded fund. Although large technology names such as Nvidia, Alphabet, Astera Labs, and Meta Platforms are among the ETF's top holdings, its SpaceX exposure is now the main reason many investors are paying attention.
NASDAQ: XOVREntrepreneurShares Series Trust - ERShares Private-Public Crossover ETF
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XOVR does not own publicly traded SpaceX shares. Instead, the ETF holds its SpaceX position through a special-purpose vehicle (SPV), which is a separate legal entity typically created to hold a specific asset or investment. XOVR added about $35 million to its SpaceX exposure, bringing the total to approximately $281 million, or about 23% of fund assets (as of May 20, 2026). However, in a later valuation update, the fund revised the value of its SpaceX SPV position to about $292 million, based on an implied SpaceX valuation of roughly $1.55 trillion.
Investors should also note that XOVR's SpaceX weight is not fixed. It can shift with fund flows, public stock price moves, and valuation updates for the private SpaceX SPV. XOVR's SPV exposure to SpaceX was around 13.8% of the total portfolio, while market value remained $291.6 million as of June 1. With SpaceX expected to go public at a nearly $1.75 trillion valuation, XOVR's net asset value could benefit from a higher markup on that private SpaceX position.
However, XOVR is exposed to liquidity and redemption risk because of its structure. If investors redeem ETF shares, the fund may be able to sell its liquid public stocks more easily than its private SpaceX position. So, while XOVR offers a useful way to gain exposure to SpaceX, it is not as simple as buying a typical ETF made up solely of publicly traded stocks.
I’ve been watching EchoStar (NASDAQ:SATS | SATS Price Prediction) for years as a slow-motion satellite story that never quite worked. Then Elon Musk walked in with a checkbook. Here is the trade.
The $19.6 Billion Check On September 7, 2025, EchoStar entered into a License Purchase Agreement with SpaceX for AWS-4 and H-Block spectrum. The deal was amended on November 5, 2025, to add up to 15 MHz of unpaired AWS-3 spectrum.
The structure is the interesting part. Total consideration runs approximately $19.6 billion: $11.1 billion in SpaceX equity via roughly 261.8 million Class A shares at $42.40 per share, plus up to $8.5 billion to pay off designated EchoStar debt. SpaceX also covers interim debt service through November 30, 2027, aggregating around $3 billion through November 30, 2028.
The biggest hurdle cleared three weeks ago. The FCC approved the deal on May 12, 2026, with closing expected November 2027. SpaceX itself confirmed in recent investor materials that it agreed to acquire “65 MHz of spectrum in the United States as well as certain global Mobile Satellite Service spectrum licenses from EchoStar for $19.6 billion of equity and cash consideration”.
Why “Beaten Down” Still Fits Even after a monster rally, the financials look ugly on paper. EchoStar reports trailing EPS of -$50.21 and a profit margin of -97.6%. The Q3 2025 results included a $16.48 billion non-cash impairment for network decommissioning, and Q1 2026 total revenue declined 5%.
That is why short interest sits at 24.48 million shares, or 21.46% of float, as of February 2026. Bears see a dying pay-TV business. Bulls see a balance sheet about to be detonated by SpaceX cash.
The Setup Into Closing Shares closed at $129.19 on May 29, 2026, up 540% over the prior year. The forward P/E sits at 2.4, with an analyst target price of $137.60. Morningstar’s Michael Hodel framed it cleanly: “EchoStar’s strategy is shifting significantly, moving from building a wireless business with its licenses to realizing value through spectrum sales to AT&T and SpaceX.”
There is also a separate AT&T spectrum sale worth roughly $22.65 billion, expected to close mid-2026. Combined, total spectrum monetization tops $25 billion.
The Investable Thesis What is left at EchoStar post-close? Hughes broadband, the DISH/Sling pay-TV business, and a new EchoStar Capital division created to redeploy spectrum proceeds, led by CEO Hamid Akhavan. Plus a giant stake in private SpaceX stock.
You would want to own SATS if you believe the Hughes/DISH remnant plus SpaceX equity plus deployable cash exceeds today’s market cap near $37 billion. If you do not, the bear case is straightforward: legacy assets shrink, and the SpaceX shares stay illiquid until an IPO. Retail can buy SATS today. That is the cleanest public proxy for Elon Musk writing one of the largest checks of his career.
Key Takeaways SATS plans spectrum deals with AT&T and SpaceX to monetize assets and strengthen its capital structure.EchoStar expects $22.65B cash from AT&T and about $22B total consideration from SpaceX agreements.SATS will offer Starlink Direct to Cell services and launch a fee-based referral program under SpaceX deal. EchoStar Corporation (SATS - Free Report) is pursuing strategic spectrum transactions that are expected to strengthen its financial position while supporting its long-term wireless and connectivity strategy. Through agreements with AT&T and SpaceX, the company aims to monetize spectrum assets, reduce debt obligations and establish new commercial opportunities.
The AT&T License Purchase Agreement provides for the sale of EchoStar’s 3.45 GHz and 600 MHz spectrum licenses, along with a 99-year extension of certain Hawaii spectrum leases, for an aggregate purchase price of $22.65 billion in cash. The agreement also contemplates the repayment of the DISH 2021 Intercompany Loan and the concurrent redemption of the company’s 11.75% Senior Secured Notes due 2027 using proceeds from the transaction.
EchoStar has also expanded its agreement with SpaceX through an amended license purchase arrangement. The revised transaction increases the total consideration from $17 billion to approximately $20 billion by adding AWS-3 spectrum licenses, with up to $11 billion payable in SpaceX stock valued at $212 per share. In addition, SpaceX has agreed to fund interim debt service payments through at least Nov. 30, 2027. The agreement also establishes future long-term commercial arrangements that will enable EchoStar to offer Starlink Direct to Cell text, voice and broadband services to its wireless subscribers, while introducing a fee-based referral program. The company has already begun utilizing certain rights under the agreement and providing installation and related services for new Starlink customers.
Management stated the AT&T transaction is expected to generate $22.65 billion in cash, while the SpaceX transactions are expected to provide approximately $22 billion in total consideration, including about $20 billion at the Spectrum Acquisition Closing and roughly $2 billion in interim debt service payments. These transactions also contemplate the repayment of certain outstanding debt, positioning the company to strengthen its capital structure while expanding its commercial offerings, subject to the completion of the agreements.
EchoStar's existing portfolio spans Pay-TV, Wireless, Broadband and Satellite Services, and enterprise and government connectivity businesses. The company provides services through brands including Boost Mobile, Sling TV, DISH TV, Hughes and HughesNet, serving consumer, enterprise, operator and government customers worldwide.
Taking a Look at SATS’ CompetitorsGilat Satellite Networks Ltd. (GILT - Free Report) strengthened its business through several agreements and commercial deals during the first quarter of 2026. The company partnered with Amazon AWS, FCS, Space & Defense, and the WAVE Consortium to demonstrate a virtualized SATCOM gateway architecture. It also secured a multimillion-dollar partnership with Nelco in India to deploy its SkyEdge IV platform for India's first Ka-band service using the JSAT-N2 HTS satellite. Additionally, Gilat reached an agreement with the former shareholders of DataPath to settle the share-linked portion of the 2023 acquisition earnout by issuing 2.5 million shares, while the remaining performance-based earnout remains subject to future evaluation.
Iridium Communications (IRDM - Free Report) recently announced a definitive agreement to acquire Aireon LLC, the operator of the world’s only space-based ADS-B air traffic surveillance system. The deal strengthens Iridium’s aviation safety strategy by combining space-based surveillance, safety communications, PNT and operational data on a single network to support the future of global aviation amid rising air traffic, denser airspace and increasing demand for safety and resiliency.
On Nov. 4, 2025, Iridium partnered with Vodafone IoT to integrate its Iridium NTN DirectSM service. This collaboration will expand Vodafone IoT’s coverage footprint, enabling NB-IoT devices to maintain connectivity even in the most remote or previously unreachable areas. For 2026, service revenue is expected to be flat to up 2%, reflecting continued IoT growth offset by moderation elsewhere, following 2025 service revenue of $634 million.
EchoStar Price Performance, Valuation and EstimatesShares of EchoStar have gained a stellar 576.1% in a year compared with the Zacks Satellite and Communication industry’s growth of 319.8%.
Image Source: Zacks Investment Research
From a valuation standpoint, SATS trades at a forward 12-month price-to-sales (P/S) of 2.36X, below the industry’s 3.25X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SATS’ earnings for 2026 has been unchanged over the past 30 days.
Image Source: Zacks Investment Research
SATS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
