Gilat Satellite Networks (NASDAQ:GILT) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

Gilat Satellite Networks Stock Performance

NASDAQ:GILT opened at $5.36 on Monday. The stock has a fifty day moving average price of $5.83 and a 200-day moving average price of $6.06. The company has a market cap of $305.63 million, a price-to-earnings ratio of 12.71 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.90. Gilat Satellite Networks has a fifty-two week low of $4.51 and a fifty-two week high of $7.16.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $75.61 million during the quarter. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%.

Institutional Trading of Gilat Satellite Networks

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd lifted its position in shares of Gilat Satellite Networks by 129.3% during the 4th quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock worth $174,000 after buying an additional 16,004 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Gilat Satellite Networks by 74.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 165,974 shares of the communications equipment provider’s stock worth $1,014,000 after purchasing an additional 70,735 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Gilat Satellite Networks by 140.6% in the 4th quarter. GSA Capital Partners LLP now owns 56,609 shares of the communications equipment provider’s stock worth $346,000 after purchasing an additional 33,085 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in Gilat Satellite Networks in the 4th quarter worth about $82,000. Finally, Kent Lake Capital LLC increased its holdings in Gilat Satellite Networks by 3.6% in the 4th quarter. Kent Lake Capital LLC now owns 362,717 shares of the communications equipment provider’s stock worth $2,216,000 after purchasing an additional 12,717 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.