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

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $8.50 price target on the communications equipment provider's stock. Needham & Company LLC's price target points to a potential upside of 25.37% from the stock's previous close.

Separately, StockNews.com upgraded Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a report on Friday, November 15th.

Gilat Satellite Networks Trading Down 0.9 %

Shares of NASDAQ:GILT traded down $0.06 during mid-day trading on Thursday, reaching $6.78. 552,955 shares of the company's stock were exchanged, compared to its average volume of 400,362. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $7.76. The firm has a market capitalization of $386.60 million, a price-to-earnings ratio of 23.38 and a beta of 0.60. The business's fifty day moving average price is $6.55 and its 200-day moving average price is $5.52.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.30% and a net margin of 5.46%. On average, research analysts predict that Gilat Satellite Networks will post 0.48 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Institutional investors have recently bought and sold shares of the company. Inspire Investing LLC bought a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $864,000. Virtu Financial LLC acquired a new position in Gilat Satellite Networks in the third quarter valued at approximately $61,000. BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks in the third quarter valued at approximately $27,000. GSA Capital Partners LLP bought a new position in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $140,000. Finally, Van ECK Associates Corp grew its position in shares of Gilat Satellite Networks by 60.9% during the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider's stock worth $175,000 after buying an additional 13,625 shares during the period. Institutional investors own 35.72% of the company's stock.

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.