StockNews.com Lowers Gilat Satellite Networks (NASDAQ:GILT) to Buy

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Monday.

Gilat Satellite Networks Trading Down 0.2 %

Shares of Gilat Satellite Networks stock traded down $0.01 during trading hours on Monday, hitting $5.36. The company’s stock had a trading volume of 73,944 shares, compared to its average volume of 159,966. Gilat Satellite Networks has a 12 month low of $4.95 and a 12 month high of $7.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.00 and a quick ratio of 1.66. The company has a market capitalization of $305.63 million, a PE ratio of 13.07 and a beta of 0.60. The stock has a 50 day moving average of $5.50 and a 200 day moving average of $5.95.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Gilat Satellite Networks had a net margin of 8.08% and a return on equity of 8.02%. The business had revenue of $75.61 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new stake in Gilat Satellite Networks in the 1st quarter valued at about $316,000. AWM Investment Company Inc. bought a new stake in Gilat Satellite Networks during the first quarter worth about $4,201,000. Quadrature Capital Ltd increased its holdings in Gilat Satellite Networks by 19.6% in the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 5,559 shares during the period. Foundry Partners LLC acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $3,521,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Gilat Satellite Networks by 76.2% during 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 in the last quarter. 35.72% of the stock is owned by institutional investors.

About Gilat Satellite Networks

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.