Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.95 and traded as high as $5.09. Gilat Satellite Networks shares last traded at $5.05, with a volume of 72,255 shares.
Wall Street Analyst Weigh In
Several research firms have recently commented on GILT. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Thursday, August 8th. William Blair assumed coverage on Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.
Check Out Our Latest Stock Report on Gilat Satellite Networks
Gilat Satellite Networks Stock Up 0.6 %
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $76.63 million during the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.32 EPS for the current fiscal year.
Hedge Funds Weigh In On Gilat Satellite Networks
Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd raised its position in Gilat Satellite Networks by 129.3% during the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 16,004 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at $3,521,000. AWM Investment Company Inc. acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at $4,201,000. Tidal Investments LLC purchased a new stake in Gilat Satellite Networks during the first quarter worth $316,000. Finally, LA Financiere DE L Echiquier grew its position in Gilat Satellite Networks by 20.4% during the second quarter. LA Financiere DE L Echiquier now owns 188,800 shares of the communications equipment provider’s stock valued at $844,000 after buying an additional 32,000 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.
Gilat Satellite Networks Company Profile
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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