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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 58,100 shares, a growth of 108.2% from the March 31st total of 27,900 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 171,900 shares, the short-interest ratio is presently 0.3 days.

Gilat Satellite Networks Trading Up 1.2 %

NASDAQ GILT traded up $0.06 during mid-day trading on Friday, hitting $5.14. The company’s stock had a trading volume of 118,728 shares, compared to its average volume of 216,412. The firm has a market capitalization of $293.07 million, a P/E ratio of 12.24 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60. Gilat Satellite Networks has a 52-week low of $4.53 and a 52-week high of $7.16. The stock’s fifty day simple moving average is $5.66 and its two-hundred day simple moving average is $6.01.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $75.61 million during the quarter. Gilat Satellite Networks had a net margin of 8.83% and a return on equity of 7.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in Gilat Satellite Networks by 76.2% in the first quarter. Assenagon Asset Management S.A. now owns 173,659 shares of the communications equipment provider’s stock valued at $950,000 after acquiring an additional 75,116 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Gilat Satellite Networks by 129.3% in the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock valued at $174,000 after purchasing an additional 16,004 shares during the period. Kent Lake Capital LLC grew its holdings in Gilat Satellite Networks by 3.6% during the 4th quarter. Kent Lake Capital LLC now owns 362,717 shares of the communications equipment provider’s stock valued at $2,216,000 after purchasing an additional 12,717 shares in the last quarter. First Wilshire Securities Management Inc. increased its stake in Gilat Satellite Networks by 145.7% during the 4th quarter. First Wilshire Securities Management Inc. now owns 743,506 shares of the communications equipment provider’s stock worth $4,543,000 after buying an additional 440,843 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Gilat Satellite Networks by 150.5% in the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 4,733 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.