Gilat Satellite Networks (NASDAQ:GILT) Shares Cross Above 200-Day Moving Average - Here's What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares.

Wall Street Analysts Forecast Growth

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

Gilat Satellite Networks Stock Down 0.6 %

The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $358.07 million, a price-to-earnings ratio of 21.66 and a beta of 0.57. The business's fifty day moving average price is $5.77 and its 200 day moving average price is $5.07.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in GILT. Virtu Financial LLC purchased a new stake in Gilat Satellite Networks during the 3rd quarter valued at approximately $61,000. BNP Paribas Financial Markets acquired a new position in shares of Gilat Satellite Networks in the third quarter valued at approximately $27,000. GSA Capital Partners LLP acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth $140,000. Marshall Wace LLP lifted its stake 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 period. Finally, Wedbush Securities Inc. purchased a new position in Gilat Satellite Networks during the second quarter worth about $46,000. Hedge funds and other 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.