Van ECK Associates Corp Increases Stock Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Van ECK Associates Corp boosted its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 60.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,984 shares of the communications equipment provider’s stock after buying an additional 13,625 shares during the quarter. Van ECK Associates Corp owned 0.06% of Gilat Satellite Networks worth $175,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wedbush Securities Inc. purchased a new position in Gilat Satellite Networks during the second quarter worth about $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Gilat Satellite Networks in the second quarter valued at approximately $69,000. Clearline Capital LP purchased a new position in shares of Gilat Satellite Networks in the second quarter valued at approximately $73,000. Quadrature Capital Ltd boosted its stake in shares of Gilat Satellite Networks by 19.6% in the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 5,559 shares during the period. Finally, Y.D. More Investments Ltd purchased a new position in shares of Gilat Satellite Networks in the second quarter valued at approximately $243,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Analysts Set New Price Targets

GILT has been the subject of several recent research reports. 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, August 8th. William Blair initiated coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Stock Down 11.9 %

Shares of Gilat Satellite Networks stock opened at $4.98 on Thursday. Gilat Satellite Networks Ltd. has a 52-week low of $4.04 and a 52-week high of $6.80. The company has a 50 day moving average of $4.99 and a 200 day moving average of $4.90. The company has a quick ratio of 1.81, a current ratio of 2.14 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $283.96 million, a P/E ratio of 14.23 and a beta of 0.59.

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. 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.