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

StockNews.com downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

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

Gilat Satellite Networks Trading Down 5.2 %

NASDAQ:GILT opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.66 and a current ratio of 2.00. The firm has a market cap of $258.87 million, a price-to-earnings ratio of 11.07 and a beta of 0.61. Gilat Satellite Networks has a 52 week low of $4.41 and a 52 week high of $7.16. The firm has a 50-day moving average price of $5.32 and a two-hundred day moving average price of $5.79.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported $0.11 EPS for the quarter. The firm had revenue of $76.08 million during the quarter. Gilat Satellite Networks had a net margin of 8.08% and a return on equity of 8.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its position in shares of Gilat Satellite Networks by 10.8% during the 3rd quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock valued at $234,000 after acquiring an additional 3,533 shares during the period. Jump Financial LLC grew its position in shares of Gilat Satellite Networks by 37.7% during the 4th quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after acquiring an additional 4,567 shares during the period. Quadrant Capital Group LLC grew its position in shares of Gilat Satellite Networks by 150.5% during the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 4,733 shares during the period. Quadrature Capital Ltd grew its position in shares of Gilat Satellite Networks by 19.6% during the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 5,559 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Gilat Satellite Networks during the 4th quarter valued at approximately $48,000. 35.72% of the stock is owned by institutional investors.

Gilat Satellite Networks Company Profile

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.