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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a large growth in short interest during 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. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 493,600 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of analysts have issued reports 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 research report on Wednesday, February 26th. StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $27,000. Covestor Ltd acquired a new stake in Gilat Satellite Networks in the fourth quarter valued at approximately $29,000. Virtu Financial LLC purchased a new position in Gilat Satellite Networks in the third quarter worth approximately $61,000. Quarry LP acquired a new position in Gilat Satellite Networks during the 4th quarter worth approximately $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at approximately $85,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Gilat Satellite Networks Trading Up 1.6 %

Shares of GILT stock opened at $7.04 on Friday. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $8.05. The company has a 50 day moving average price of $7.02 and a 200 day moving average price of $5.89. The stock has a market capitalization of $401.40 million, a P/E ratio of 16.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. Equities research analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

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.