10 Technology Stocks with Insider Buying in 2024

3. EchoStar Corporation (NASDAQ:SATS)

Number of Hedge Fund Holders: 46

EchoStar Corporation (NASDAQ:SATS) is a leading provider of satellite communications and broadband solutions, serving government, enterprise, and consumer markets worldwide. The company operates through its Hughes Network Systems division, delivering high-speed satellite internet, managed network services, and secure communications infrastructure. SATS’s advanced satellite technology supports critical applications in defense, aerospace, and remote connectivity, positioning it as a key player in global communications.

EchoStar Corporation (NASDAQ:SATS) has had a stellar 2024 and its share price is currently at a 52-week high, as the company has made significant progress on various lines of business and continues to build up on the positive momentum. SATS continues to grow its presence in the DoD 5G networking market with a recent award from the US Army for their 5G Open RAN initiative at Fort Bliss, Texas, which is aimed at exploring the advantages of near real-time control of the radio access network. ARPU improved both sequentially and on a YoY basis, as the company continues to focus on higher quality customers and improved customer experience and network optimization. On top of that, EchoStar Corporation (NASDAQ:SATS) completed significant financial restructuring transactions, including securing $2.5 billion in new financing, successfully executing a convertible notes exchange, and issuing $400 million in equity – these developments signal tremendous reinvestment opportunities with potential ROI above the already high costs of financing. Management believes there are upwards of tens of billions of dollars in asset value that is not accounted for in the current market cap – closing this gap could have a tremendous positive impact on the share price. This optimist stance is confirmed by several insiders buying more than $100,000 worth of shares each during 2024.