Gilat Satellite Networks (NASDAQ:GILT) Shares Gap Up – What’s Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $16.34, but opened at $17.02. Gilat Satellite Networks shares last traded at $17.24, with a volume of 157,227 shares trading hands.

Analyst Upgrades and Downgrades

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

Gilat Satellite Networks Price Performance

The stock has a market cap of $1.27 billion, a P/E ratio of 51.80 and a beta of 0.92. The company has a fifty day moving average of $16.62 and a 200 day moving average of $14.51.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $136.96 million for the quarter, compared to analysts’ expectations of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. As a group, analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Insider Transactions at Gilat Satellite Networks

In other Gilat Satellite Networks news, insider Doron Kerbel sold 7,500 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adi Sfadia sold 48,978 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $16.85, for a total transaction of $825,279.30. Additional details regarding this sale are available in the official SEC disclosure. 1.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GILT. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Gilat Satellite Networks by 33.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after acquiring an additional 1,402,035 shares in the last quarter. First Wilshire Securities Management Inc. raised its position in shares of Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock worth $10,408,000 after purchasing an additional 14,782 shares during the period. Royce & Associates LP lifted its holdings in shares of 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 valued at $15,605,000 after purchasing an additional 132,599 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position 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 valued at $14,206,000 after purchasing an additional 419,843 shares during the period. Institutional investors own 35.72% of the company’s stock.

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.