EchoStar descends after report co mulling bankruptcy filing amid FCC investigation

EchoStar's SATS.O shares down 8% at $16.08 early Mon after report telecom services firm preparing potential bankruptcy filing amid ongoing Federal Communications Commission probe

SATS vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, the Wall Street Journal reported late Fri, citing people familiar

Last month, the FCC notified EchoStar it was investigating co's compliance with certain federal obligations to provide 5G service in the U.S., and raising questions about EchoStar's buildout extension and mobile-satellite service

The Dish Network pay-TV and Boost Mobile wireless service owner recently disclosed skipping about $500 mln in interest payments, pointing to uncertainty surrounding FCC review

Including move on Mon, SATS shares have lost roughly a third in value over the past month

Of 7 analysts covering SATS, 2 rate "buy" and 5 rate "hold" with median PT of $27.50, latest LSEG data reflects