Gilat Satellite Networks (NASDAQ:GILT) Given Buy Rating at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $8.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 28.79% from the company’s current price.

Other analysts have also issued research reports about the stock. William Blair initiated coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating for the company. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Gilat Satellite Networks Trading Up 0.3 %

Shares of Gilat Satellite Networks stock opened at $6.60 on Thursday. The company has a market capitalization of $376.33 million, a P/E ratio of 22.76 and a beta of 0.57. The stock has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $5.13. Gilat Satellite Networks has a 12-month low of $4.04 and a 12-month high of $6.82. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GILT. Renaissance Technologies LLC grew its position in Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock valued at $4,817,000 after buying an additional 24,204 shares during the period. Marshall Wace LLP boosted its stake in Gilat Satellite Networks by 410.2% in the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after acquiring an additional 103,924 shares during the last quarter. Clearline Capital LP bought a new position in shares of Gilat Satellite Networks during the 2nd quarter valued at approximately $73,000. Van ECK Associates Corp increased its stake in shares of Gilat Satellite Networks by 60.9% during the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock worth $175,000 after purchasing an additional 13,625 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after purchasing an additional 31,714 shares during the period. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.