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

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.23 and traded as high as $6.43. Gilat Satellite Networks shares last traded at $6.35, with a volume of 123,901 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GILT shares. StockNews.com cut Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Wednesday, February 26th.

Gilat Satellite Networks Price Performance

The business's 50 day moving average is $6.56 and its two-hundred day moving average is $6.23. The firm has a market capitalization of $362.06 million, a PE ratio of 14.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14.

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 for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. As a group, research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its stake in Gilat Satellite Networks by 3.4% in the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider's stock valued at $405,000 after purchasing an additional 2,158 shares in the last quarter. PDT Partners LLC raised its stake in shares of Gilat Satellite Networks by 8.4% during the fourth quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider's stock worth $183,000 after acquiring an additional 2,305 shares in the last quarter. Covestor Ltd purchased a new position in shares of Gilat Satellite Networks during the fourth quarter worth approximately $29,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Gilat Satellite Networks by 22.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 53,600 shares of the communications equipment provider's stock worth $330,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Diametric Capital LP raised its stake in shares of Gilat Satellite Networks by 38.5% during the fourth quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider's stock worth $238,000 after acquiring an additional 10,759 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.

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