Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Significant Increase in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 134,900 shares, an increase of 87.4% from the October 31st total of 72,000 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 162,400 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Gilat Satellite Networks

Institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Gilat Satellite Networks during the second quarter worth about $3,000,000. Foundry Partners LLC increased its stake in Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock worth $3,693,000 after buying an additional 177,675 shares during the period. Marshall Wace LLP lifted its holdings in Gilat Satellite Networks by 410.2% during the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after buying an additional 103,924 shares in the last quarter. Clearline Capital LP lifted its holdings in Gilat Satellite Networks by 510.5% during the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock worth $524,000 after buying an additional 83,127 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Gilat Satellite Networks in the 1st quarter valued at approximately $316,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Gilat Satellite Networks Trading Down 0.2 %

Shares of NASDAQ GILT traded down $0.01 during trading on Thursday, reaching $5.41. The stock had a trading volume of 110,362 shares, compared to its average volume of 191,219. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The company has a market cap of $308.48 million, a P/E ratio of 18.66 and a beta of 0.59. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $6.80. The business’s 50-day moving average price is $5.15 and its 200-day moving average price is $4.90.

Wall Street Analyst Weigh In

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

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.