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

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.78 and traded as high as $7.45. Gilat Satellite Networks shares last traded at $7.12, with a volume of 485,857 shares.

Analyst Ratings Changes

Several research analysts have issued reports on GILT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a report on Wednesday, February 26th. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

Gilat Satellite Networks Price Performance

The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $5.78. The stock has a market capitalization of $405.96 million, a PE ratio of 16.18 and a beta of 0.60.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. On average, equities analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GILT. LBP AM SA boosted its position in shares of Gilat Satellite Networks by 83.9% in the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after purchasing an additional 158,468 shares during the period. Inspire Investing LLC purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at $864,000. Van ECK Associates Corp increased its stake in Gilat Satellite Networks by 279.0% in the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after buying an additional 100,396 shares during the period. Clearline Capital LP increased its stake in Gilat Satellite Networks by 510.5% in the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock worth $524,000 after buying an additional 83,127 shares during the period. Finally, Foundry Partners LLC grew its holdings in Gilat Satellite Networks by 9.0% during the 4th quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock worth $5,593,000 after acquiring an additional 75,260 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other 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.