Gilat Satellite Networks (NASDAQ:GILT) Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a research report report published on Monday.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $5.46 on Monday. Gilat Satellite Networks has a 52-week low of $4.51 and a 52-week high of $7.16. The company has a fifty day moving average of $5.89 and a 200-day moving average of $6.08. The company has a market capitalization of $311.33 million, a P/E ratio of 13.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.90.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $75.61 million during the quarter. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%.

Institutional Trading of Gilat Satellite Networks

Several hedge funds have recently added to or reduced their stakes in GILT. First Wilshire Securities Management Inc. boosted its position in Gilat Satellite Networks by 55.3% during the 3rd quarter. First Wilshire Securities Management Inc. now owns 302,663 shares of the communications equipment provider’s stock valued at $1,946,000 after buying an additional 107,751 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Gilat Satellite Networks during the third quarter worth about $640,000. Acadian Asset Management LLC grew its stake in shares of Gilat Satellite Networks by 381.5% in 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 during the last quarter. Citigroup Inc. increased its holdings in Gilat Satellite Networks by 10.8% during the 3rd quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 3,533 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in Gilat Satellite Networks by 17.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 2,999 shares during the last quarter. 35.72% of the stock is owned by 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.