Gilat Satellite Networks (NASDAQ:GILT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.00 and traded as high as $6.33. Gilat Satellite Networks shares last traded at $6.15, with a volume of 487,313 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. William Blair began coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Friday, November 15th. Finally, StockNews.com raised Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

Gilat Satellite Networks Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The stock’s fifty day simple moving average is $5.65 and its two-hundred day simple moving average is $5.01. The company has a market capitalization of $347.80 million, a price-to-earnings ratio of 21.04 and a beta of 0.59.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GILT. BNP Paribas Financial Markets acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth approximately $27,000. Wedbush Securities Inc. purchased a new stake in Gilat Satellite Networks in the 2nd quarter worth approximately $46,000. Virtu Financial LLC acquired a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at $61,000. Clearline Capital LP purchased a new position in shares of Gilat Satellite Networks during the 2nd quarter valued at $73,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Gilat Satellite Networks in the third quarter worth $140,000. Institutional investors 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.