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

by · The Markets Daily

Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 69,900 shares, a growth of 251.3% from the September 15th total of 19,900 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 176,400 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foundry Partners LLC acquired a new position in Gilat Satellite Networks during the first quarter worth $3,521,000. Quadrature Capital Ltd raised its holdings in shares of Gilat Satellite Networks by 19.6% in the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 5,559 shares during the last quarter. Wedbush Securities Inc. bought a new position in Gilat Satellite Networks in the 2nd quarter valued at about $46,000. Clearline Capital LP acquired a new position in Gilat Satellite Networks during the 2nd quarter valued at about $73,000. Finally, Tidal Investments LLC bought a new stake in Gilat Satellite Networks during the 1st quarter worth approximately $316,000. 35.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

GILT has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Thursday, August 8th. StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, William Blair initiated coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating on the stock.

Read Our Latest Analysis on GILT

Gilat Satellite Networks Trading Down 0.6 %

Shares of GILT stock traded down $0.03 during trading hours on Friday, hitting $4.93. 94,863 shares of the company were exchanged, compared to its average volume of 193,381. The company has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $4.97. The firm has a market cap of $281.11 million, a P/E ratio of 14.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $6.80.

Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 EPS for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. The business had revenue of $76.63 million during the quarter. Equities analysts anticipate that Gilat Satellite Networks will post 0.32 EPS for the current year.

About Gilat Satellite Networks

(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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