Gilat Satellite Networks (NASDAQ:GILT) Sets New 1-Year Low – Time to Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $7.15 and last traded at $7.10, with a volume of 182,452 shares trading hands. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Gilat Satellite Networks Stock Up 7.4%

The firm has a fifty day moving average of $9.04 and a 200-day moving average of $13.63. The stock has a market capitalization of $529.74 million, a price-to-earnings ratio of 16.29 and a beta of 1.15.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, June 30th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $122.66 million for the quarter. Gilat Satellite Networks had a net margin of 6.21% and a return on equity of 10.12%. As a group, research analysts forecast that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. acquired a new position in Gilat Satellite Networks in the second quarter worth $13,792,000. Van ECK Associates Corp raised its stake in Gilat Satellite Networks by 47.3% during the second quarter. Van ECK Associates Corp now owns 1,799,354 shares of the communications equipment provider’s stock worth $23,949,000 after acquiring an additional 577,479 shares during the period. Y.D. More Investments Ltd lifted its holdings in Gilat Satellite Networks by 77.3% in the first quarter. Y.D. More Investments Ltd now owns 715,697 shares of the communications equipment provider’s stock worth $10,560,000 after acquiring an additional 311,951 shares during the last quarter. Swiss National Bank bought a new position in Gilat Satellite Networks in the first quarter worth about $2,159,000. Finally, Penn Capital Management Company LLC boosted its stake in Gilat Satellite Networks by 99.3% in the third quarter. Penn Capital Management Company LLC now owns 277,511 shares of the communications equipment provider’s stock valued at $2,739,000 after acquiring an additional 138,238 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd. is an Israel-based provider of satellite networking technology and services. The company develops and supplies very small aperture terminal (VSAT) systems, satellite hubs, antennas, modems and related ground infrastructure used to deliver broadband connectivity and other communications services.

Gilat’s solutions support telecommunications operators, internet service providers, enterprises, governments and defense organizations. Its offerings are used for cellular backhaul and access, enterprise networking, community broadband, in-flight connectivity, maritime communications, mobility applications and other situations where terrestrial networks may be unavailable or insufficient.