StockNews.com Downgrades Gilat Satellite Networks (NASDAQ:GILT) to Buy

StockNews.com cut shares of Gilat Satellite Networks (NASDAQ:GILT - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Separately, Needham & Company LLC restated a "buy" rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

Gilat Satellite Networks Trading Down 1.1 %

NASDAQ GILT traded down $0.08 on Friday, reaching $7.04. The stock had a trading volume of 469,603 shares, compared to its average volume of 500,414. The firm has a market capitalization of $401.40 million, a price-to-earnings ratio of 16.00 and a beta of 0.62. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12-month low of $4.04 and a 12-month high of $8.05. The stock has a fifty day moving average price of $6.93 and a two-hundred day moving average price of $5.80.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. As a group, sell-side analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

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Hedge Funds Weigh In On Gilat Satellite Networks

Several institutional investors have recently modified their holdings of GILT. Van ECK Associates Corp grew its stake in shares of Gilat Satellite Networks by 60.9% in the third 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 in the last quarter. ARK Investment Management LLC grew its stake in shares of Gilat Satellite Networks by 7.9% during the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider's stock worth $2,292,000 after purchasing an additional 31,714 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Gilat Satellite Networks during the third quarter worth $140,000. Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider's stock worth $4,396,000 after purchasing an additional 8,045 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Gilat Satellite Networks during the third quarter worth $27,000. Institutional investors and hedge funds 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.