Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Upgraded by StockNews.com

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

GILT has been the topic of a number of other reports. William Blair initiated coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a report on Friday.

Gilat Satellite Networks Price Performance

GILT stock opened at $5.03 on Friday. The firm has a market cap of $286.80 million, a P/E ratio of 17.34 and a beta of 0.59. The firm’s fifty day moving average is $5.01 and its 200 day moving average is $4.90. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors have recently added to or reduced their stakes in GILT. Renaissance Technologies LLC increased its position in shares of Gilat Satellite Networks by 2.3% in the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock valued at $4,817,000 after acquiring an additional 24,204 shares during the period. Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks by 1.0% in the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after purchasing an additional 8,045 shares during the last quarter. AWM Investment Company Inc. purchased a new position in Gilat Satellite Networks during the 1st quarter valued at about $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilat Satellite Networks during the 2nd quarter valued at approximately $3,000,000. Finally, ARK Investment Management LLC lifted its holdings in Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after buying an additional 31,714 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.