Gilat Satellite Networks (NASDAQ:GILT) Shares Gap Down – Should You Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $19.27, but opened at $16.24. Gilat Satellite Networks shares last traded at $15.2550, with a volume of 972,344 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GILT shares. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. Wall Street Zen cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Freedom Capital lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Gilat Satellite Networks currently has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Stock Performance

The company has a fifty day moving average of $15.16 and a two-hundred day moving average of $12.69. The stock has a market capitalization of $896.48 million, a P/E ratio of 37.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. On average, equities analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently made changes to their positions in GILT. Cullen Frost Bankers Inc. acquired a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $26,000. Huntington National Bank increased its stake in shares of Gilat Satellite Networks by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Gilat Satellite Networks by 82.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 960 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter valued at $39,000. Finally, Signaturefd LLC raised its position in shares of Gilat Satellite Networks by 104.5% during the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after purchasing an additional 2,105 shares during the period. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.