DISH Network Corporation [DISH] is -46.65% lower this YTD. Is it still time to buy?

DISH Network Corporation [NASDAQ: DISH] price plunged by -1.19 percent to reach at -$0.09. The company report on February 23, 2023 at 3:07 PM that DISH Wireless Expands Cloud-Native Open RAN Network With Mavenir Open vRAN Software Solutions.

Mavenir, the network software provider building the future of networks with cloud-native solutions that run on the cloud, provided DISH Wireless with Open vRAN software that supports DISH frequency bands and is supporting greater than 40,000 radios across the DISH 5G cloud-native Open RAN network. DISH Wireless, currently provides a live commercial service of 5G voice over new radio (VoNR), which utilizes significantly lower latency and higher throughput to improve voice and video quality and capacity for new 5G use cases.

“We strongly align with DISH’s vision and are pleased to be such a strong partner in this multi-vendor, cloud-native, open, and disaggregated network,” said Pardeep Kohli, president and CEO, Mavenir. “Our unique strategy brings best practices from the hyperscale, cloud and IT industries for rapid design, development, testing and rollouts. DISH Wireless can now run telco applications on the cloud – in large central data centers and at the edge. We look forward to Mavenir and DISH Wireless working together on other solutions and services.”.

A sum of 6321176 shares traded at recent session while its average daily volume was at 7.11M shares. DISH Network Corporation shares reached a high of $7.73 and dropped to a low of $7.43 until finishing in the latest session at $7.49.

The one-year DISH stock forecast points to a potential upside of 65.21. The average equity rating for DISH stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on DISH Network Corporation [DISH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DISH shares is $21.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DISH stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for DISH Network Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 27, 2023. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $30 to $10. The new note on the price target was released on February 28, 2023, representing the official price target for DISH Network Corporation stock. Previously, the target price had yet another raise to $14, while Goldman analysts kept a Neutral rating on DISH stock. On August 04, 2022, analysts decreased their price target for DISH shares from 40 to 36.

The Average True Range (ATR) for DISH Network Corporation is set at 0.48, with the Price to Sales ratio for DISH stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 0.22, with the Price to Cash per share for the same quarter was set at 4.97. Price to Free Cash Flow for DISH in the course of the last twelve months was 10.83 with Quick ratio for the last quarter at 0.70.

DISH Stock Performance Analysis:

DISH Network Corporation [DISH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.21. With this latest performance, DISH shares dropped by -15.27% in over the last four-week period, additionally sinking by -46.23% over the last 6 months – not to mention a drop of -76.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DISH stock in for the last two-week period is set at 31.42, with the RSI for the last a single of trading hit 30.35, and the three-weeks RSI is set at 32.50 for DISH Network Corporation [DISH]. The present Moving Average for the last 50 days of trading for this stock 10.23, while it was recorded at 7.64 for the last single week of trading, and 14.47 for the last 200 days.

Insight into DISH Network Corporation Fundamentals:

DISH Network Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

DISH Network Corporation [DISH] Insider Position Details

There are presently around $1,794 million, or 82.90% of DISH stock, in the hands of institutional investors. The top three institutional holders of DISH stocks are: DODGE & COX with ownership of 39,292,866, which is approximately -0.181% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 28,220,681 shares of the stock with an approximate value of $213.91 million in DISH stocks shares; and BLACKROCK INC., currently with $141.43 million in DISH stock with ownership of nearly 6.131% of the company’s market capitalization.

Positions in DISH Network Corporation stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 202 institutional holders increased their position in DISH Network Corporation [NASDAQ:DISH] by around 25,341,873 shares. Additionally, 190 investors decreased positions by around 26,423,363 shares, while 63 investors held positions by with 184,920,018 shares. The mentioned changes placed institutional holdings at 236,685,254 shares, according to the latest SEC report filing. DISH stock had 56 new institutional investments in for a total of 3,809,195 shares, while 51 institutional investors sold positions of 12,934,289 shares during the same period.