Needham & Company LLC Reaffirms “Buy” Rating for Gilat Satellite Networks (NASDAQ:GILT)

Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research note published on Friday,Benzinga reports. The firm currently has a $8.50 price target on the communications equipment provider’s stock.

Separately, William Blair assumed coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $5.58 on Friday. The stock has a fifty day simple moving average of $5.01 and a 200-day simple moving average of $4.90. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The stock has a market cap of $318.17 million, a PE ratio of 19.24 and a beta of 0.59. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $6.80.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors have recently modified their holdings of GILT. Clearline Capital LP boosted its holdings in Gilat Satellite Networks by 510.5% during the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares during the period. PDT Partners LLC lifted its position in shares of Gilat Satellite Networks by 51.1% during the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 9,287 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the third quarter valued at approximately $27,000. Foundry Partners LLC grew its holdings in shares of Gilat Satellite Networks by 1.0% in the third 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. Finally, GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks during the 3rd quarter worth approximately $140,000. 35.72% of the stock is owned by institutional investors and hedge funds.

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.