Gilat Satellite Networks (NASDAQ:GILT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILTFree Report) in a research note published on Friday morning, Benzinga reports. The firm currently has a $8.50 target price on the communications equipment provider’s stock.

Separately, StockNews.com raised Gilat Satellite Networks from a buy rating to a strong-buy rating in a report on Friday, November 10th.

Read Our Latest Research Report on Gilat Satellite Networks

Gilat Satellite Networks Trading Down 1.6 %

Shares of NASDAQ GILT opened at $6.30 on Friday. The firm has a market cap of $356.71 million, a P/E ratio of 25.20 and a beta of 0.62. Gilat Satellite Networks has a 1-year low of $4.51 and a 1-year high of $7.16. The business’s 50 day moving average is $6.23 and its 200-day moving average is $6.16.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in shares of Gilat Satellite Networks during the 4th quarter valued at $27,000. Royal Bank of Canada boosted its stake in Gilat Satellite Networks by 74.8% in the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 1,498 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Gilat Satellite Networks during the 3rd quarter valued at approximately $60,000. Moran Wealth Management LLC purchased a new stake in shares of Gilat Satellite Networks during the 1st quarter worth approximately $63,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 32.55% of the company’s stock.

About Gilat Satellite Networks

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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.

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