Gilat Satellite Networks (NASDAQ:GILT) Cut to Buy at StockNews.com

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Thursday.

Gilat Satellite Networks Trading Down 0.2 %

Shares of NASDAQ:GILT traded down $0.01 during midday trading on Thursday, reaching $5.57. The company’s stock had a trading volume of 113,282 shares, compared to its average volume of 163,685. The firm has a market capitalization of $317.58 million, a price-to-earnings ratio of 13.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.90. The firm has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $5.96. Gilat Satellite Networks has a fifty-two week low of $4.95 and a fifty-two week high of $7.16.

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

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GILT. New York State Common Retirement Fund purchased a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $48,000. Quadrant Capital Group LLC lifted its stake in Gilat Satellite Networks by 150.5% in the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 4,733 shares during the last quarter. Jump Financial LLC lifted its stake in Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 4,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in 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 last quarter. 35.72% of the stock is owned by institutional investors.

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.