Gilat Satellite Networks (NASDAQ:GILT) Sets New 1-Year Low – Time to Sell?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $7.69 and last traded at $7.7250, with a volume of 80,721 shares traded. The stock had previously closed at $7.78.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Gilat Satellite Networks currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Gilat Satellite Networks Stock Performance

The company has a fifty day moving average of $9.65 and a two-hundred day moving average of $12.89. The company has a market cap of $550.03 million, a PE ratio of 11.09 and a beta of 1.04.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.20 EPS for the quarter. Gilat Satellite Networks had a net margin of 6.21% and a return on equity of 10.12%. The company had revenue of $122.66 million during the quarter. On average, equities analysts forecast that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current year.

Insider Activity

In other news, Director Amir Ofek sold 3,923 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $11.41, for a total value of $44,761.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Gilat Satellite Networks

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Gilat Satellite Networks by 103.4% during the second quarter. NewEdge Advisors LLC now owns 2,091 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 1,063 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter worth approximately $48,000. Seven Mile Advisory purchased a new stake in shares of Gilat Satellite Networks in the third quarter worth approximately $105,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Gilat Satellite Networks in the first quarter worth approximately $169,000. Finally, Bank of America Corp DE lifted its stake in shares of Gilat Satellite Networks by 241.6% during the 1st quarter. Bank of America Corp DE now owns 25,658 shares of the communications equipment provider’s stock worth $385,000 after acquiring an additional 18,146 shares during the last quarter. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd. is an Israel-based provider of satellite networking technology and services. The company develops and supplies very small aperture terminal (VSAT) systems, satellite hubs, antennas, modems and related ground infrastructure used to deliver broadband connectivity and other communications services.

Gilat’s solutions support telecommunications operators, internet service providers, enterprises, governments and defense organizations. Its offerings are used for cellular backhaul and access, enterprise networking, community broadband, in-flight connectivity, maritime communications, mobility applications and other situations where terrestrial networks may be unavailable or insufficient.