Gilat Satellite Networks (NASDAQ:GILT) Stock Passes Above 200 Day Moving Average – Should You Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.88 and traded as high as $7.12. Gilat Satellite Networks shares last traded at $7.04, with a volume of 278,762 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GILT. StockNews.com lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

Gilat Satellite Networks Stock Performance

The stock has a market capitalization of $401.40 million, a P/E ratio of 16.00 and a beta of 0.62. 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 stock has a 50 day simple moving average of $7.02 and a two-hundred day simple moving average of $5.88.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Hedge funds have recently made changes to their positions in the business. PharVision Advisers LLC acquired a new stake in shares of Gilat Satellite Networks during the 4th quarter worth about $257,000. Tidal Investments LLC grew its stake in Gilat Satellite Networks by 3.4% in the 4th quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider’s stock valued at $405,000 after buying an additional 2,158 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Gilat Satellite Networks by 62.9% in the 4th quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider’s stock valued at $1,028,000 after acquiring an additional 64,610 shares during the period. Bank of America Corp DE lifted its position in Gilat Satellite Networks by 83.4% during the fourth quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider’s stock worth $305,000 after acquiring an additional 22,515 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Gilat Satellite Networks during the fourth quarter worth approximately $421,000. 35.72% of the stock is owned by institutional investors and hedge funds.

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.