Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Large Increase in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 58,100 shares, a growth of 108.2% from the March 31st total of 27,900 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 171,900 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th.

Gilat Satellite Networks Stock Performance

Shares of GILT stock traded up $0.06 during midday trading on Friday, hitting $5.14. 118,728 shares of the company were exchanged, compared to its average volume of 216,412. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.90. The firm has a market capitalization of $293.07 million, a P/E ratio of 12.24 and a beta of 0.59. Gilat Satellite Networks has a 52 week low of $4.53 and a 52 week high of $7.16. The firm’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $6.01.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Gilat Satellite Networks had a net margin of 8.83% and a return on equity of 7.42%. The business had revenue of $75.61 million during the quarter.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. First Wilshire Securities Management Inc. increased its holdings in Gilat Satellite Networks by 145.7% during the fourth quarter. First Wilshire Securities Management Inc. now owns 743,506 shares of the communications equipment provider’s stock worth $4,543,000 after buying an additional 440,843 shares during the last quarter. Acadian Asset Management LLC grew its stake in Gilat Satellite Networks by 381.5% in the 3rd quarter. Acadian Asset Management LLC now owns 451,343 shares of the communications equipment provider’s stock worth $2,894,000 after buying an additional 357,609 shares in the last quarter. Kent Lake Capital LLC grew its stake in Gilat Satellite Networks by 3.6% in the 4th quarter. Kent Lake Capital LLC now owns 362,717 shares of the communications equipment provider’s stock worth $2,216,000 after buying an additional 12,717 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Gilat Satellite Networks by 76.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 173,659 shares of the communications equipment provider’s stock worth $950,000 after acquiring an additional 75,116 shares during the last quarter. Finally, LA Financiere DE L Echiquier raised its holdings in Gilat Satellite Networks by 25.7% during the 4th quarter. LA Financiere DE L Echiquier now owns 171,000 shares of the communications equipment provider’s stock valued at $1,045,000 after buying an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.