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

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.95 and traded as high as $5.09. Gilat Satellite Networks shares last traded at $5.05, with a volume of 72,255 shares changing hands.

Wall Street Analyst Weigh In

GILT has been the subject of several recent research reports. William Blair initiated coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an "outperform" rating for the company. Needham & Company LLC restated a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Thursday, August 8th.

Gilat Satellite Networks Stock Performance

The firm has a 50 day moving average of $4.76 and a two-hundred day moving average of $4.95. The stock has a market cap of $287.94 million, a PE ratio of 12.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.14 and a quick ratio of 1.81.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. The firm had revenue of $76.63 million during the quarter. Gilat Satellite Networks had a return on equity of 8.23% and a net margin of 6.80%. Research analysts predict that Gilat Satellite Networks Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors have recently added to or reduced their stakes in GILT. Clearline Capital LP acquired a new stake in shares of Gilat Satellite Networks in the second quarter valued at approximately $73,000. Marshall Wace LLP boosted its holdings 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 acquiring an additional 103,924 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of 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 valued at $4,817,000 after acquiring an additional 24,204 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of Gilat Satellite Networks in the second quarter valued at approximately $243,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Gilat Satellite Networks in the second quarter valued at approximately $46,000. Hedge funds and other 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.