Gilat Satellite Networks’ (GILT) Buy Rating Reiterated at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $8.50 target price on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 52.60% from the stock’s current price.

Separately, StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th.

Gilat Satellite Networks Stock Down 0.2 %

GILT stock traded down $0.01 during midday trading on Thursday, hitting $5.57. The stock had a trading volume of 113,282 shares, compared to its average volume of 163,685. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60. The firm has a market cap of $317.58 million, a price-to-earnings ratio of 13.29 and a beta of 0.60. The business has a 50-day moving average of $5.53 and a two-hundred day moving average of $5.96. Gilat Satellite Networks has a 52-week low of $4.95 and a 52-week high of $7.16.

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, topping the consensus estimate 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 for the quarter.

Institutional Trading of Gilat Satellite Networks

Several institutional investors have recently added to or reduced their stakes in GILT. New York State Common Retirement Fund bought a new position in shares of Gilat Satellite Networks during the fourth quarter valued at $48,000. Quadrant Capital Group LLC boosted its holdings in shares of Gilat Satellite Networks by 150.5% during the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 4,733 shares during the last quarter. Jump Financial LLC grew its stake in shares of Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after acquiring an additional 4,567 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Gilat Satellite Networks by 17.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 2,999 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in Gilat Satellite Networks by 129.3% in the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 16,004 shares during the last quarter. 35.72% of the stock is currently owned by hedge funds and other 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.