Gilat Satellite Networks (NASDAQ:GILT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Gilat Satellite Networks Ltd. (NASDAQ:GILT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on GILT. Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Friday, November 15th. StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, William Blair initiated coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating on the stock.

Gilat Satellite Networks Stock Down 2.5 %

The stock has a market cap of $360.35 million, a price-to-earnings ratio of 21.79 and a beta of 0.57. The firm’s fifty day moving average price is $5.75 and its two-hundred day moving average price is $5.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GILT. Renaissance Technologies LLC raised its position in shares of Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after purchasing an additional 24,204 shares during the period. Foundry Partners LLC increased its stake 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 valued at $4,396,000 after purchasing an additional 8,045 shares in the last quarter. ARK Investment Management LLC raised its holdings in Gilat Satellite Networks by 7.9% during the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after buying an additional 31,714 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Gilat Satellite Networks by 410.2% in the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after buying an additional 103,924 shares in the last quarter. Finally, Clearline Capital LP grew its holdings in shares of Gilat Satellite Networks by 510.5% during the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after buying an additional 83,127 shares during the last quarter. 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.