Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 86,400 shares, a growth of 59.1% from the January 15th total of 54,300 shares. Based on an average daily volume of 104,600 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.
Analysts Set New Price Targets
Several brokerages recently commented on GILT. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Friday, November 17th.
Gilat Satellite Networks Stock Performance
Institutional Investors Weigh In On Gilat Satellite Networks
Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in Gilat Satellite Networks by 736.4% during the fourth quarter. Millennium Management LLC now owns 695,690 shares of the communications equipment provider’s stock worth $4,035,000 after buying an additional 612,515 shares during the period. Wellington Management Group LLP grew its stake in Gilat Satellite Networks by 42.0% during the first quarter. Wellington Management Group LLP now owns 1,833,700 shares of the communications equipment provider’s stock worth $9,389,000 after buying an additional 542,800 shares during the period. First Wilshire Securities Management Inc. grew its stake in Gilat Satellite Networks by 145.7% during the fourth quarter. First Wilshire Securities Management Inc. now owns 743,506 shares of the communications equipment provider’s stock worth $4,543,000 after buying an additional 440,843 shares during the period. Acadian Asset Management LLC lifted its position in shares of Gilat Satellite Networks by 381.5% during the third quarter. Acadian Asset Management LLC now owns 451,343 shares of the communications equipment provider’s stock worth $2,894,000 after purchasing an additional 357,609 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Gilat Satellite Networks by 93.9% during the second quarter. State Street Corp now owns 701,302 shares of the communications equipment provider’s stock worth $4,236,000 after purchasing an additional 339,586 shares in the last quarter. 32.55% of the stock is currently 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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