New York, Jan 12, 2026, 20:56 EST — Market closed
- EchoStar shares jumped 6.7% Monday before slipping slightly in late extended trading
- Investors kept their attention on spectrum (wireless airwaves) sales and upcoming regulatory hurdles
- The FCC’s AWS-3 auction calendar is now driving the next round of key dates on traders’ screens
Shares of EchoStar Corp jumped 6.7% to close at $128.03 on Monday, hitting an intraday peak of $128.31. In late extended trading, the stock slipped roughly 1.5%. 1
The rally has pushed EchoStar into the spotlight as a quick proxy for U.S. spectrum monetization, with traders focusing more on headlines and timelines than on immediate operational details. Spectrum refers to the licensed airwaves used by carriers and satellite operators to transmit data.
EchoStar has been unloading assets linked to its spectrum portfolio. On Nov. 6, the company announced it would offload a batch of unpaired AWS-3 spectrum licenses to SpaceX for roughly $2.6 billion in SpaceX stock. This deal follows earlier transactions as EchoStar aims to strengthen its financial position. 2
That effort has come under the microscope. On Dec. 18, two Democratic lawmakers called on regulators to scrutinize EchoStar’s spectrum deals with AT&T and SpaceX, warning the agreements might undercut competition in both the wireless and satellite sectors. 3
Wall Street is pushing the numbers higher. TD Cowen analyst Gregory Williams bumped his price target up to $158 from $100, noting in a research note reported by TheFly that fundamentals “will likely take a backseat for yet another quarter.” 4
Investors will soon face key regulatory deadlines. The FCC plans to start bidding on June 2 for Auction 113, offering 200 AWS-3 licenses. Interested parties need to submit FCC Form 175 by 6 p.m. ET on Feb. 11 and complete upfront payments by 6 p.m. ET on April 8, according to the agency. 5
The bull case comes with a warning. If spectrum approvals face delays, stricter terms, or outright rejection, sentiment could sour fast—especially after the recent rally has driven shares to new highs.
Another factor weighing on the capital structure: EchoStar said holders of its 3.875% convertible senior secured notes due 2030 have an extra conversion window from Jan. 1 to March 31. These convertible notes can be swapped for stock, potentially diluting existing shares. 6
As the market stays closed, traders will be watching Tuesday’s session closely for follow-through and any regulatory or company news that might clarify the timeline for spectrum sales.
Key upcoming dates include the FCC’s Auction 113 application deadline on Feb. 11 and updates on approvals related to the AT&T and SpaceX spectrum deals. EchoStar is also set to report its next quarterly results later in February, according to market calendars.
