Gilat Satellite Networks' (GILT) "Buy" Rating Reaffirmed at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $8.50 price target on the communications equipment provider's stock. Needham & Company LLC's price objective points to a potential upside of 29.18% from the company's previous close.

GILT has been the subject of several other reports. William Blair began coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an "outperform" rating for the company. StockNews.com upgraded shares of Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th.

Gilat Satellite Networks Price Performance

GILT traded down $0.02 during trading on Thursday, hitting $6.58. 374,228 shares of the company traded hands, compared to its average volume of 427,613. The company has a market cap of $375.19 million, a PE ratio of 22.69 and a beta of 0.57. The stock's 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $5.13. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.82. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Gilat Satellite Networks

Several institutional investors have recently bought and sold shares of GILT. Renaissance Technologies LLC lifted its position in Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider's stock valued at $4,817,000 after purchasing an additional 24,204 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Gilat Satellite Networks by 410.2% in the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider's stock worth $578,000 after acquiring an additional 103,924 shares during the last quarter. Clearline Capital LP bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth about $73,000. Van ECK Associates Corp lifted its holdings in shares of Gilat Satellite Networks by 60.9% in the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider's stock worth $175,000 after acquiring an additional 13,625 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider's stock worth $2,292,000 after acquiring an additional 31,714 shares during the last quarter. 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.