Gilat Satellite Networks (NASDAQ:GILT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

by · The Markets Daily

Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.90 and traded as high as $5.11. Gilat Satellite Networks shares last traded at $5.06, with a volume of 189,458 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. William Blair started coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company. Needham & Company LLC restated a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a report on Thursday, August 8th.

Read Our Latest Stock Report on GILT

Gilat Satellite Networks Stock Up 3.1 %

The stock has a fifty day moving average price of $4.81 and a 200-day moving average price of $4.89. The firm has a market cap of $298.77 million, a PE ratio of 12.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14.

Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $76.63 million during the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. Research analysts expect that Gilat Satellite Networks Ltd. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. acquired a new stake in Gilat Satellite Networks during the 2nd quarter valued at $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Gilat Satellite Networks during the second quarter worth about $69,000. Clearline Capital LP purchased a new stake in shares of Gilat Satellite Networks during the second quarter worth about $73,000. Quadrature Capital Ltd lifted its stake in shares of Gilat Satellite Networks by 19.6% in the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 5,559 shares in the last quarter. Finally, Van ECK Associates Corp grew 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 in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

About Gilat Satellite Networks

(Get Free Report)

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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