Gilat Satellite Networks (NASDAQ:GILT) Shares Gap Down – Time to Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $19.27, but opened at $16.24. Gilat Satellite Networks shares last traded at $15.2550, with a volume of 972,344 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on GILT. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Freedom Capital downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Gilat Satellite Networks currently has an average rating of “Hold” and a consensus price target of $16.00.

Gilat Satellite Networks Trading Down 18.7%

The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $15.16 and its 200 day moving average is $12.69. The firm has a market capitalization of $896.48 million, a price-to-earnings ratio of 37.95 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. On average, equities analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GILT. Cullen Frost Bankers Inc. acquired a new position in Gilat Satellite Networks in the third quarter valued at $26,000. Huntington National Bank lifted its stake in shares of Gilat Satellite Networks by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Gilat Satellite Networks by 82.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 960 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at about $39,000. Finally, Signaturefd LLC grew its stake in Gilat Satellite Networks by 104.5% during the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after purchasing an additional 2,105 shares during the period. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.