Gilat Satellite Networks (NASDAQ:GILT) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw unusually-strong trading volume on Monday . Approximately 941,646 shares were traded during trading, an increase of 43% from the previous session’s volume of 657,023 shares.The stock last traded at $16.4520 and had previously closed at $15.06.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GILT shares. Zacks Research downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Gilat Satellite Networks Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45. The stock has a market cap of $958.27 million, a PE ratio of 40.85 and a beta of 0.64. The business has a 50 day moving average price of $12.66 and a two-hundred day moving average price of $11.25.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The company had revenue of $117.69 million during the quarter, compared to analyst estimates of $112.19 million. As a group, equities research analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $26,000. USA Financial Formulas purchased a new position in Gilat Satellite Networks during the 3rd quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Gilat Satellite Networks in the 3rd quarter worth $64,000. McIlrath & Eck LLC boosted its stake in shares of Gilat Satellite Networks by 383.1% during the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 4,586 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at about $76,000. Hedge funds and other 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.