Gilat Satellite Networks (NASDAQ:GILT) Upgraded by BidaskClub to Hold

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

Several other analysts have also recently commented on the stock. ValuEngine cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Saturday, January 18th. TheStreet upgraded shares of Gilat Satellite Networks from a “c” rating to a “b” rating in a report on Wednesday, December 11th.

GILT opened at $7.34 on Friday. Gilat Satellite Networks has a one year low of $4.70 and a one year high of $10.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 1.62. The company’s 50 day simple moving average is $8.53 and its 200-day simple moving average is $8.36. The stock has a market capitalization of $397.03 million, a P/E ratio of 11.29 and a beta of 0.59.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, February 19th. The communications equipment provider reported $0.16 EPS for the quarter. Gilat Satellite Networks had a net margin of 13.87% and a return on equity of 9.78%. The business had revenue of $78.31 million for the quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in GILT. Goldman Sachs Group Inc. acquired a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $112,000. Jane Street Group LLC acquired a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $296,000. State Street Corp lifted its holdings in Gilat Satellite Networks by 17.6% in the third quarter. State Street Corp now owns 41,074 shares of the communications equipment provider’s stock valued at $344,000 after buying an additional 6,140 shares during the period. Swiss National Bank lifted its holdings in Gilat Satellite Networks by 2.9% in the fourth quarter. Swiss National Bank now owns 58,091 shares of the communications equipment provider’s stock valued at $459,000 after buying an additional 1,625 shares during the period. Finally, Norges Bank acquired a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $11,426,000. Institutional investors and hedge funds own 15.13% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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