Gilat Satellite Networks (NASDAQ:GILT) Stock Crosses Above 200 Day Moving Average – What’s Next?
by Jessica Moore · The Cerbat GemGilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.65 and traded as high as $13.14. Gilat Satellite Networks shares last traded at $12.94, with a volume of 343,506 shares traded.
Analysts Set New Price Targets
A number of analysts have weighed in on GILT shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday. Zacks Research downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Gilat Satellite Networks currently has a consensus rating of “Hold” and an average target price of $16.00.
View Our Latest Research Report on Gilat Satellite Networks
Gilat Satellite Networks Stock Performance
The company has a fifty day moving average price of $12.46 and a 200 day moving average price of $10.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45. The stock has a market cap of $740.32 million, a P/E ratio of 31.56 and a beta of 0.66.
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.40% and a net margin of 6.03%.The business had revenue of $117.69 million for the quarter, compared to analysts’ expectations of $112.19 million. On average, equities analysts expect that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Gilat Satellite Networks by 118.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after purchasing an additional 2,250,000 shares in the last quarter. First Wilshire Securities Management Inc. lifted its position in Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after purchasing an additional 14,782 shares during the last quarter. Royce & Associates LP grew its stake in Gilat Satellite Networks by 12.4% in the 3rd quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after buying an additional 132,599 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock worth $15,533,000 after buying an additional 1,064,959 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock worth $14,206,000 after buying an additional 419,843 shares during the last quarter. 35.72% of the stock is owned by institutional investors.
About Gilat Satellite Networks
Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.
Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.