Gilat Satellite Networks (NASDAQ:GILT) Shares Pass Above 200 Day Moving Average - What's Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.94 and traded as high as $6.14. Gilat Satellite Networks shares last traded at $6.02, with a volume of 178,701 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GILT shares. StockNews.com upgraded Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th. William Blair began coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They set an "outperform" rating on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Friday, November 15th.

Gilat Satellite Networks Trading Down 1.2 %

The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $5.35 and its two-hundred day moving average is $4.94. The firm has a market cap of $339.27 million, a price-to-earnings ratio of 20.52 and a beta of 0.59.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Gilat Satellite Networks by 2.3% in the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider's stock worth $4,817,000 after purchasing an additional 24,204 shares during the period. Foundry Partners LLC grew its position in shares of Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider's stock worth $4,396,000 after buying an additional 8,045 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Gilat Satellite Networks during the 2nd quarter worth approximately $3,000,000. ARK Investment Management LLC raised 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 buying an additional 31,714 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Gilat Satellite Networks by 410.2% in the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider's stock valued at $578,000 after buying an additional 103,924 shares during the period. Institutional investors 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.