William Blair Initiates Coverage on Gilat Satellite Networks (NASDAQ:GILT)

William Blair began coverage on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating on the communications equipment provider’s stock.

Several other research firms have also commented on GILT. StockNews.com lowered Gilat Satellite Networks from a strong-buy rating to a buy rating in a research report on Wednesday, June 19th. Needham & Company LLC reiterated a buy rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Thursday, August 8th.

Gilat Satellite Networks Stock Performance

Shares of GILT opened at $5.13 on Thursday. The stock has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $4.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14. The stock has a market capitalization of $292.50 million, a PE ratio of 12.51 and a beta of 0.58. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $76.63 million during the quarter. Gilat Satellite Networks had a return on equity of 8.23% and a net margin of 6.80%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $3,521,000. Jump Financial LLC boosted its stake in shares of Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 4,567 shares in the last quarter. Quadrature Capital Ltd boosted 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 valued at $184,000 after buying an additional 5,559 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Gilat Satellite Networks in the second quarter valued at approximately $46,000. Finally, Tidal Investments LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter valued at approximately $316,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

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.