Needham & Company LLC Reaffirms Buy Rating for Gilat Satellite Networks (NASDAQ:GILT)

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $8.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 27.44% from the company’s previous close.

A number of other analysts have also weighed in on the company. StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. William Blair began coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Trading Up 1.4 %

NASDAQ GILT opened at $6.67 on Thursday. The stock has a 50-day moving average of $5.91 and a 200-day moving average of $5.15. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $6.82. The firm has a market cap of $380.32 million, a PE ratio of 23.00 and a beta of 0.57.

Institutional Investors Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in Gilat Satellite Networks in the third quarter valued at $27,000. Virtu Financial LLC bought a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at about $61,000. Clearline Capital LP bought a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at about $73,000. GSA Capital Partners LLP purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at about $140,000. Finally, PDT Partners LLC raised its stake in Gilat Satellite Networks by 51.1% in the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 9,287 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. 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.