Gilat Satellite Networks (NASDAQ:GILT) Rating Increased to Strong-Buy at StockNews.com

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

Separately, Needham & Company LLC restated a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Monday, May 20th.

Gilat Satellite Networks Stock Down 1.8 %

NASDAQ:GILT traded down $0.10 during mid-day trading on Tuesday, hitting $5.50. 56,108 shares of the company’s stock were exchanged, compared to its average volume of 152,694. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.00 and a quick ratio of 1.66. The company has a market cap of $313.61 million, a PE ratio of 13.41 and a beta of 0.61. The business has a fifty day moving average price of $5.47 and a 200 day moving average price of $5.88. Gilat Satellite Networks has a one year low of $4.95 and a one year high of $7.16.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, May 8th. The communications equipment provider reported $0.11 EPS for the quarter. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%. The business had revenue of $76.08 million for the quarter.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its stake in shares of Gilat Satellite Networks by 150.5% during the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 4,733 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Gilat Satellite Networks during the 4th quarter valued at $48,000. Jump Financial LLC raised its position in Gilat Satellite Networks by 37.7% during the 4th quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 4,567 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Gilat Satellite Networks by 129.3% in the 4th quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock worth $174,000 after buying an additional 16,004 shares during the period. Finally, Citigroup Inc. grew its position in shares of Gilat Satellite Networks by 10.8% during the 3rd quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock worth $234,000 after buying an additional 3,533 shares in the last quarter. 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.