Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a strong-buy rating in a report issued on Friday morning.

A number of other research analysts also recently issued reports on GILT. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Friday. William Blair assumed coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Stock Up 3.1 %

NASDAQ:GILT opened at $5.03 on Friday. The stock’s fifty day moving average is $5.01 and its two-hundred day moving average is $4.90. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.80. The stock has a market capitalization of $286.81 million, a price-to-earnings ratio of 17.35 and a beta of 0.59. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently bought and sold shares of GILT. Renaissance Technologies LLC boosted its position in shares of Gilat Satellite Networks by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock valued at $4,817,000 after purchasing an additional 24,204 shares during the period. Foundry Partners LLC grew its holdings in Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after acquiring an additional 8,045 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of Gilat Satellite Networks during the 1st quarter worth $4,201,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Gilat Satellite Networks in the 2nd quarter valued at about $3,000,000. Finally, ARK Investment Management LLC lifted its stake in shares of Gilat Satellite Networks by 7.9% in the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock valued at $2,292,000 after purchasing an additional 31,714 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

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. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.