Gilat Satellite Networks (NASDAQ:GILT) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.00 and traded as high as $6.33. Gilat Satellite Networks shares last traded at $6.15, with a volume of 487,313 shares.

Wall Street Analysts Forecast Growth

GILT has been the subject of several research reports. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research report on Friday, November 15th. Finally, William Blair initiated coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Stock Performance

The company has a market cap of $350.65 million, a PE ratio of 21.21 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The stock’s 50-day simple moving average is $5.62 and its 200 day simple moving average is $5.00.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of large investors have recently bought and sold shares of the company. Tidal Investments LLC raised its position in Gilat Satellite Networks by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock worth $335,000 after buying an additional 2,812 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Gilat Satellite Networks during the 3rd quarter worth $27,000. Foundry Partners LLC raised its position in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after buying an additional 8,045 shares during the last quarter. PDT Partners LLC raised its position in Gilat Satellite Networks by 51.1% during the 3rd 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 during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Gilat Satellite Networks during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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.