Gilat Satellite Networks (NASDAQ:GILT) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GILT shares. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Friday, November 15th. William Blair initiated coverage on Gilat Satellite Networks in a research report on Thursday, September 26th. They issued an “outperform” rating on the stock. Finally, StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Gilat Satellite Networks Stock Down 0.6 %

The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock has a market cap of $358.07 million, a P/E ratio of 21.66 and a beta of 0.57. The company’s 50 day moving average price is $5.79 and its two-hundred day moving average price is $5.08.

Institutional Investors Weigh In On Gilat Satellite Networks

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at $27,000. Wedbush Securities Inc. purchased a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $46,000. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $61,000. Clearline Capital LP purchased a new position in Gilat Satellite Networks during the second quarter valued at approximately $73,000. Finally, GSA Capital Partners LLP bought a new position in Gilat Satellite Networks in the third quarter worth approximately $140,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Gilat Satellite Networks Company Profile

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.