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

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $8.50 target price on the communications equipment provider's stock. Needham & Company LLC's price target points to a potential upside of 68.99% from the stock's current price.

Separately, William Blair started coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an "outperform" rating on the stock.

Gilat Satellite Networks Trading Up 3.1 %

Shares of Gilat Satellite Networks stock traded up $0.15 during trading hours on Friday, reaching $5.03. The stock had a trading volume of 182,352 shares, compared to its average volume of 190,736. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80. The firm has a market capitalization of $286.81 million, a price-to-earnings ratio of 17.35 and a beta of 0.59. The firm has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $4.90.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quadrature Capital Ltd lifted its holdings in Gilat Satellite Networks by 19.6% during the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider's stock valued at $184,000 after purchasing an additional 5,559 shares during the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Gilat Satellite Networks in the first quarter valued at approximately $4,201,000. Tidal Investments LLC bought a new stake in Gilat Satellite Networks during the first quarter worth about $316,000. LA Financiere DE L Echiquier lifted its stake in Gilat Satellite Networks by 20.4% in the second quarter. LA Financiere DE L Echiquier now owns 188,800 shares of the communications equipment provider's stock valued at $844,000 after acquiring an additional 32,000 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Gilat Satellite Networks during the second quarter worth approximately $69,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

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.