Gilat Satellite Networks (NASDAQ:GILT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.88 and traded as high as $7.12. Gilat Satellite Networks shares last traded at $7.04, with a volume of 278,762 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GILT. StockNews.com cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

Gilat Satellite Networks Trading Up 1.6 %

The firm has a 50-day moving average of $7.02 and a two-hundred day moving average of $5.88. The firm has a market capitalization of $401.40 million, a P/E ratio of 16.00 and a beta of 0.62. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. On average, analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GILT. LBP AM SA grew its holdings in Gilat Satellite Networks by 83.9% during the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after acquiring an additional 158,468 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Gilat Satellite Networks in the fourth quarter worth $864,000. Van ECK Associates Corp grew its stake in shares of Gilat Satellite Networks by 279.0% in the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after purchasing an additional 100,396 shares during the last quarter. Clearline Capital LP increased its holdings in Gilat Satellite Networks by 510.5% in the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after purchasing an additional 83,127 shares during the period. Finally, Foundry Partners LLC raised its position in Gilat Satellite Networks by 9.0% during the 4th quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock worth $5,593,000 after purchasing an additional 75,260 shares during the last quarter. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.