Gilat Satellite Networks (NASDAQ:GILT) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a hold rating in a report released on Saturday, BidAskClub reports.

Separately, ValuEngine raised Gilat Satellite Networks from a hold rating to a buy rating in a research note on Thursday, July 11th.

NASDAQ:GILT traded down $0.09 during trading hours on Friday, hitting $8.49. The company’s stock had a trading volume of 896 shares, compared to its average volume of 7,744. The stock has a fifty day simple moving average of $8.43. The stock has a market capitalization of $475.69 million, a P/E ratio of 28.60 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.51 and a quick ratio of 1.36. Gilat Satellite Networks has a twelve month low of $7.94 and a twelve month high of $10.74.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported $0.06 earnings per share for the quarter. The business had revenue of $62.11 million for the quarter. Gilat Satellite Networks had a return on equity of 7.37% and a net margin of 7.25%.

Several hedge funds have recently made changes to their positions in GILT. Swiss National Bank raised its holdings in shares of Gilat Satellite Networks by 26.8% in the second quarter. Swiss National Bank now owns 56,466 shares of the communications equipment provider’s stock valued at $483,000 after buying an additional 11,917 shares during the last quarter. ARK Investment Management LLC increased its position in Gilat Satellite Networks by 7.3% in the second quarter. ARK Investment Management LLC now owns 54,388 shares of the communications equipment provider’s stock worth $460,000 after purchasing an additional 3,683 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Gilat Satellite Networks by 21.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 859,623 shares of the communications equipment provider’s stock worth $7,272,000 after purchasing an additional 152,153 shares during the period. Sphera Funds Management LTD. increased its position in Gilat Satellite Networks by 5.8% in the first quarter. Sphera Funds Management LTD. now owns 176,406 shares of the communications equipment provider’s stock worth $1,482,000 after purchasing an additional 9,743 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Gilat Satellite Networks by 67.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock worth $7,747,000 after purchasing an additional 370,507 shares during the period. 16.40% 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 and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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