Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 2,942,970 shares, a decline of 14.4% from the January 29th total of 3,439,598 shares. Based on an average trading volume of 1,478,818 shares, the days-to-cover ratio is currently 2.0 days. Currently, 5.2% of the shares of the company are sold short. Currently, 5.2% of the shares of the company are sold short. Based on an average trading volume of 1,478,818 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

GILT has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Finally, Freedom Capital upgraded shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently modified their holdings of GILT. SBI Securities Co. Ltd. grew its position in Gilat Satellite Networks by 82.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 960 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $26,000. Huntington National Bank boosted its holdings in shares of Gilat Satellite Networks by 200,000.0% in the fourth quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 2,000 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Gilat Satellite Networks by 104.5% in the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock valued at $53,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Gilat Satellite Networks by 9.8% during the third quarter. Raymond James Financial Inc. now owns 24,412 shares of the communications equipment provider’s stock valued at $318,000 after acquiring an additional 2,173 shares during the period. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ:GILT traded down $1.36 during trading hours on Thursday, hitting $16.25. The stock had a trading volume of 498,201 shares, compared to its average volume of 1,041,369. The stock’s fifty day simple moving average is $16.20 and its 200 day simple moving average is $13.48. The firm has a market capitalization of $929.66 million, a price-to-earnings ratio of 49.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.62 and a current ratio of 1.84. Gilat Satellite Networks has a 1-year low of $5.30 and a 1-year high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The business had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Sell-side analysts anticipate that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.