Gilat Satellite Networks (NASDAQ:GILT) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Friday, November 15th. Finally, William Blair assumed coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Trading Down 2.5 %

The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $5.75 and its two-hundred day moving average is $5.06. The company has a market capitalization of $360.35 million, a PE ratio of 21.79 and a beta of 0.57.

Hedge Funds Weigh In On Gilat Satellite Networks

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Gilat Satellite Networks during the third quarter worth $27,000. Wedbush Securities Inc. purchased a new stake in shares of Gilat Satellite Networks during the 2nd quarter worth $46,000. Virtu Financial LLC bought a new stake in Gilat Satellite Networks during the third quarter valued at about $61,000. Clearline Capital LP bought a new position in Gilat Satellite Networks in the second quarter worth about $73,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Gilat Satellite Networks during the third quarter valued at about $140,000. 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.