Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Down 23.2% in December

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

Gilat Satellite Networks Price Performance

NASDAQ:GILT opened at $6.60 on Thursday. The stock has a market capitalization of $376.33 million, a PE ratio of 22.76 and a beta of 0.57. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $6.82. The firm has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $5.13. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

GILT has been the subject of a number of analyst reports. William Blair assumed coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They issued an “outperform” rating for the company. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a report on Thursday.

Institutional Trading of Gilat Satellite Networks

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