Gilat Satellite Networks (NASDAQ:GILT) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a research report report published on Friday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

Gilat Satellite Networks Trading Down 1.1 %

Shares of GILT stock opened at $7.04 on Friday. The stock has a market capitalization of $401.40 million, a PE ratio of 16.00 and a beta of 0.62. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $8.05. The business has a 50-day moving average of $6.93 and a 200 day moving average of $5.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. As a group, sell-side analysts anticipate that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Trading of Gilat Satellite Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Gilat Satellite Networks by 60.9% during the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock valued at $175,000 after purchasing an additional 13,625 shares during the last quarter. ARK Investment Management LLC boosted its stake in Gilat Satellite Networks by 7.9% during the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock valued at $2,292,000 after purchasing an additional 31,714 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks during the 3rd quarter valued at $140,000. Foundry Partners LLC boosted its stake in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after purchasing an additional 8,045 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter worth $27,000. 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.