Gilat Satellite Networks (NASDAQ:GILT) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Several other brokerages have also recently weighed in on GILT. William Blair began coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday.

Gilat Satellite Networks Stock Performance

GILT opened at $5.58 on Friday. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $6.80. The company has a market capitalization of $318.17 million, a price-to-earnings ratio of 19.24 and a beta of 0.59. The business has a 50 day moving average price of $5.01 and a two-hundred day moving average price of $4.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.81.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. purchased a new position in Gilat Satellite Networks in the 1st quarter worth about $4,201,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Gilat Satellite Networks in the second quarter worth approximately $3,000,000. Foundry Partners LLC raised its holdings in shares of Gilat Satellite Networks by 27.4% during the second quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after acquiring an additional 177,675 shares during the period. Marshall Wace LLP raised its holdings in shares of Gilat Satellite Networks by 410.2% during 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 period. Finally, Clearline Capital LP lifted its position in shares of Gilat Satellite Networks by 510.5% in the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other 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. 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.