Gilat Satellite Networks (NASDAQ:GILT) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.00 and traded as high as $6.33. Gilat Satellite Networks shares last traded at $6.15, with a volume of 487,313 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GILT. Needham & Company LLC restated a "buy" rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday, November 15th. StockNews.com upgraded shares of Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a report on Friday, November 15th. Finally, William Blair began coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an "outperform" rating on the stock.

Gilat Satellite Networks Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84. The stock has a market capitalization of $350.65 million, a P/E ratio of 21.21 and a beta of 0.59. The company has a 50 day simple moving average of $5.65 and a 200-day simple moving average of $5.01.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GILT. Foundry Partners LLC boosted its holdings in Gilat Satellite Networks by 27.4% in the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider's stock worth $3,693,000 after buying an additional 177,675 shares during the period. Marshall Wace LLP grew its position in shares of 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 purchasing an additional 103,924 shares in the last quarter. Clearline Capital LP raised its stake in shares of Gilat Satellite Networks by 510.5% during the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider's stock valued at $524,000 after purchasing an additional 83,127 shares during the period. Y.D. More Investments Ltd purchased a new stake in Gilat Satellite Networks during the 2nd quarter worth about $243,000. Finally, ARK Investment Management LLC boosted its stake in Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider's stock worth $2,292,000 after purchasing an additional 31,714 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.