Gilat Satellite Networks (NASDAQ:GILT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GILT shares. Needham & Company LLC reissued a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a report on Friday, November 15th. William Blair started coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating for the company. Finally, StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

Gilat Satellite Networks Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The company has a 50-day moving average of $5.79 and a 200-day moving average of $5.08. The stock has a market capitalization of $358.07 million, a price-to-earnings ratio of 21.66 and a beta of 0.57.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after buying an additional 24,204 shares in the last quarter. Foundry Partners LLC raised its holdings in Gilat Satellite Networks by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after acquiring an additional 8,045 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Gilat Satellite Networks by 7.9% during the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after purchasing an additional 31,714 shares during the period. Marshall Wace LLP boosted its holdings in shares of Gilat Satellite Networks by 410.2% during the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after purchasing an additional 103,924 shares during the last quarter. Finally, Clearline Capital LP grew 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 purchasing an additional 83,127 shares during the period. 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. 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.