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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 2,942,970 shares, a decrease 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 short-interest ratio is currently 2.0 days. Currently, 5.2% of the company’s shares are sold short. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 1,478,818 shares, the short-interest ratio is currently 2.0 days.

Analyst Ratings Changes

A number of research firms have recently commented on GILT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Wall Street Zen cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday. Freedom Capital raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Stock Up 3.7%

Shares of GILT traded up $0.63 during trading hours on Wednesday, hitting $17.53. The stock had a trading volume of 667,302 shares, compared to its average volume of 1,048,845. Gilat Satellite Networks has a 1-year low of $5.30 and a 1-year high of $20.38. The firm has a market capitalization of $1.00 billion, a P/E ratio of 53.12 and a beta of 0.82. The firm has a 50 day simple moving average of $16.10 and a 200-day simple moving average of $13.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.84 and a quick ratio of 1.62.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating 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 firm had revenue of $136.96 million during the quarter, compared to analysts’ expectations of $133.56 million. Sell-side analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Gilat Satellite Networks by 118.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after purchasing an additional 2,250,000 shares during the last quarter. Penserra Capital Management LLC raised its position in Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after buying an additional 1,064,959 shares during the last quarter. Defiance ETFs LLC bought a new position in Gilat Satellite Networks during the 4th quarter valued at $13,555,000. CSM Advisors LLC purchased a new position in Gilat Satellite Networks during the 2nd quarter worth $6,214,000. Finally, UBS Group AG boosted its holdings in Gilat Satellite Networks by 613.4% during the 3rd quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock worth $12,545,000 after acquiring an additional 828,489 shares during the last quarter. Institutional investors and hedge funds 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.