Gilat Satellite Networks (NASDAQ:GILT) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $11.41, but opened at $11.88. Gilat Satellite Networks shares last traded at $11.7950, with a volume of 69,882 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Gilat Satellite Networks currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Check Out Our Latest Stock Report on Gilat Satellite Networks

Gilat Satellite Networks Trading Up 2.8%

The company has a market capitalization of $670.87 million, a P/E ratio of 30.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. The stock has a fifty day moving average of $12.97 and a 200 day moving average of $9.70.

Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The business had revenue of $117.69 million during the quarter, compared to analyst estimates of $112.19 million. Gilat Satellite Networks has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GILT. National Bank of Canada FI boosted its position in shares of Gilat Satellite Networks by 100.0% in the first quarter. National Bank of Canada FI now owns 50,000 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 25,000 shares during the period. Russell Investments Group Ltd. bought a new position in Gilat Satellite Networks in the 1st quarter worth $558,000. Penn Capital Management Company LLC bought a new position in Gilat Satellite Networks in the 1st quarter worth $2,755,000. Walleye Capital LLC purchased a new stake in Gilat Satellite Networks in the 1st quarter worth $111,000. Finally, State of Wyoming bought a new stake in Gilat Satellite Networks during the first quarter valued at about $101,000. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

(Get Free Report)

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.

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