Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Declines By 23.2%

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 190,000 shares, a decrease of 23.2% from the December 15th total of 247,500 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 286,700 shares, the short-interest ratio is presently 0.7 days.

Gilat Satellite Networks Stock Up 1.4 %

Gilat Satellite Networks stock opened at $6.67 on Friday. The firm has a market capitalization of $380.32 million, a price-to-earnings ratio of 23.00 and a beta of 0.57. The firm’s fifty day moving average price is $5.91 and its two-hundred day moving average price is $5.15. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $6.82. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Gilat Satellite Networks during the 3rd quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $61,000. Clearline Capital LP bought a new stake in Gilat Satellite Networks during the second quarter worth $73,000. GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks in the 3rd quarter valued at $140,000. Finally, PDT Partners LLC lifted its stake in Gilat Satellite Networks by 51.1% during the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 9,287 shares in the last quarter. Institutional investors own 35.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Thursday. StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, William Blair started coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They set an “outperform” rating for the company.

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.