Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 248,400 shares, an increase of 80.9% from the January 15th total of 137,300 shares. Based on an average daily volume of 389,600 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Gilat Satellite Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in shares of Gilat Satellite Networks by 60.9% during the third 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 during the last quarter. ARK Investment Management LLC lifted its holdings 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 valued at $2,292,000 after buying an additional 31,714 shares during the period. GSA Capital Partners LLP bought a new position in shares of Gilat Satellite Networks during the 3rd quarter valued at $140,000. Foundry Partners LLC boosted its stake in shares of 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 worth $4,396,000 after buying an additional 8,045 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks in the third quarter worth $27,000. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Down 0.9 %

Shares of NASDAQ GILT traded down $0.06 during midday trading on Friday, hitting $6.78. The stock had a trading volume of 552,955 shares, compared to its average volume of 400,362. The business’s 50 day moving average is $6.54 and its 200-day moving average is $5.49. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $7.76. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The company has a market cap of $386.60 million, a P/E ratio of 23.38 and a beta of 0.60.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.30% and a net margin of 5.46%. As a group, analysts predict that Gilat Satellite Networks will post 0.48 EPS for the current year.

Analyst Ratings Changes

GILT has been the subject of several recent research reports. 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. StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

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.