Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 556,600 shares, a growth of 89.5% from the February 13th total of 293,700 shares. Based on an average daily volume of 493,600 shares, the short-interest ratio is currently 1.1 days. Approximately 1.0% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a report on Wednesday, February 26th.
View Our Latest Analysis on GILT
Gilat Satellite Networks Stock Up 1.6 %
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS 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%. Analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.
Institutional Investors Weigh In On Gilat Satellite Networks
A number of large investors have recently added to or reduced their stakes in GILT. LBP AM SA boosted its position in Gilat Satellite Networks by 83.9% during the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after purchasing an additional 158,468 shares during the period. Inspire Investing LLC bought a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $864,000. Van ECK Associates Corp boosted its position in Gilat Satellite Networks by 279.0% during 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 period. Clearline Capital LP boosted its position in shares of 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 acquiring an additional 83,127 shares during the period. Finally, Foundry Partners LLC boosted its position in shares of Gilat Satellite Networks by 9.0% in the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock valued at $5,593,000 after acquiring an additional 75,260 shares during the period. 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.
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