Gilat Satellite Networks (NASDAQ:GILT) Trading 6.6% Higher – Should You Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was up 6.6% on Monday . The stock traded as high as $17.44 and last traded at $17.20. Approximately 534,265 shares traded hands during trading, a decline of 49% from the average daily volume of 1,038,957 shares. The stock had previously closed at $16.14.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Freedom Capital upgraded shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Gilat Satellite Networks Price Performance

The company has a quick ratio of 1.62, a current ratio of 1.84 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 52.93 and a beta of 0.82. The company has a fifty day moving average price of $16.35 and a two-hundred day moving average price of $13.62.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The firm had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. On average, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Hedge funds have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd raised its holdings in Gilat Satellite Networks by 33.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after purchasing an additional 1,402,035 shares during the last quarter. First Wilshire Securities Management Inc. grew its holdings in Gilat Satellite Networks by 1.0% in the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after purchasing an additional 14,782 shares during the period. Royce & Associates LP increased its position in Gilat Satellite Networks by 12.4% during the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after purchasing an additional 132,599 shares during the last quarter. Penserra Capital Management LLC raised its stake in Gilat Satellite Networks by 831.1% during the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock worth $15,533,000 after purchasing an additional 1,064,959 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock worth $14,206,000 after purchasing an additional 419,843 shares during the period. 35.72% of the stock is owned by institutional investors and hedge funds.

About Gilat Satellite Networks

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.