BidaskClub Lowers Gilat Satellite Networks (GILT) to Hold
BidaskClub lowered shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a hold rating in a report released on Wednesday morning.
Separately, TheStreet raised Gilat Satellite Networks from a c+ rating to a b- rating in a report on Thursday, August 30th.
Shares of GILT stock opened at $9.17 on Wednesday. The stock has a market capitalization of $503.07 million, a PE ratio of 30.60 and a beta of 0.71. The company has a quick ratio of 1.57, a current ratio of 1.76 and a debt-to-equity ratio of 0.04. Gilat Satellite Networks has a 52-week low of $6.89 and a 52-week high of $10.74.
Hedge funds have recently modified their holdings of the company. Ramsey Quantitative Systems lifted its holdings in shares of Gilat Satellite Networks by 47.2% in the 3rd quarter. Ramsey Quantitative Systems now owns 62,106 shares of the communications equipment provider’s stock valued at $532,000 after buying an additional 19,917 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $3,928,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Gilat Satellite Networks by 1.1% in the 3rd quarter. Renaissance Technologies LLC now owns 2,927,633 shares of the communications equipment provider’s stock valued at $25,061,000 after buying an additional 33,079 shares during the period. 15.41% 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 broadband satellite communication (Satcom) network solutions and services worldwide. The company operates through Commercial, Mobility, and Services divisions. The company designs, manufactures, and provides network management and equipment for Satcom, as well as professional services to satellite operators and service providers.
Further Reading: Closed-End Mutual Funds (CEFs)
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