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 report published on Wednesday morning.

Separately, Needham & Company LLC reissued a buy rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Wednesday.

Gilat Satellite Networks Price Performance

Shares of GILT opened at $4.60 on Wednesday. The stock has a market capitalization of $262.29 million, a P/E ratio of 11.22 and a beta of 0.61. Gilat Satellite Networks has a twelve month low of $4.41 and a twelve month high of $7.16. The company has a 50 day moving average of $5.28 and a 200-day moving average of $5.76. The company has a quick ratio of 1.66, a current ratio of 2.00 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Gilat Satellite Networks

Several large investors have recently made changes to their positions in GILT. HighTower Advisors LLC acquired a new stake in shares of Gilat Satellite Networks in the 3rd quarter valued at approximately $405,000. Acadian Asset Management LLC lifted its holdings in Gilat Satellite Networks by 381.5% during the 3rd quarter. Acadian Asset Management LLC now owns 451,343 shares of the communications equipment provider’s stock valued at $2,894,000 after purchasing an additional 357,609 shares during the last quarter. First Wilshire Securities Management Inc. lifted its holdings in Gilat Satellite Networks by 55.3% during the 3rd quarter. First Wilshire Securities Management Inc. now owns 302,663 shares of the communications equipment provider’s stock valued at $1,946,000 after purchasing an additional 107,751 shares during the last quarter. Kent Lake Capital LLC lifted its holdings in Gilat Satellite Networks by 1,063.8% during the 3rd quarter. Kent Lake Capital LLC now owns 350,000 shares of the communications equipment provider’s stock valued at $2,250,000 after purchasing an additional 319,926 shares during the last quarter. Finally, Worth Venture Partners LLC lifted its holdings in Gilat Satellite Networks by 78.2% during the 3rd quarter. Worth Venture Partners LLC now owns 75,643 shares of the communications equipment provider’s stock valued at $486,000 after purchasing an additional 33,192 shares during the last quarter. Institutional investors and hedge funds 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.