Gilat Satellite Networks (NASDAQ:GILT) Stock Crosses Above 200-Day Moving Average - Here's Why

Shares of 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 traded.

Analyst Ratings Changes

A number of research firms recently issued reports on GILT. William Blair assumed coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an "outperform" rating on the stock. 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday, November 15th.

Gilat Satellite Networks Price Performance

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 stock's 50-day moving average price is $5.77 and its 200 day moving average price is $5.07. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $27,000. Wedbush Securities Inc. acquired a new position in shares of Gilat Satellite Networks in the 2nd quarter valued at $46,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks during the 3rd quarter worth $61,000. Clearline Capital LP acquired a new stake in shares of Gilat Satellite Networks during the 2nd quarter worth about $73,000. Finally, GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks in the 3rd quarter valued at about $140,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

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.