Gilat Satellite Networks (NASDAQ:GILT) Shares Pass Above 200 Day Moving Average - Time to Sell?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.90 and traded as high as $5.11. Gilat Satellite Networks shares last traded at $5.06, with a volume of 189,458 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Thursday, August 8th. 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.

Gilat Satellite Networks Price Performance

The company has a quick ratio of 1.81, a current ratio of 2.14 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $4.90. The stock has a market cap of $289.65 million, a price-to-earnings ratio of 12.39 and a beta of 0.59.

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

Institutional Trading of Gilat Satellite Networks

A number of institutional investors and hedge funds have recently modified their holdings of GILT. Foundry Partners LLC bought a new stake in shares of Gilat Satellite Networks during the 1st quarter valued at about $3,521,000. Quadrature Capital Ltd grew its holdings in shares of Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider's stock valued at $184,000 after purchasing an additional 5,559 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Gilat Satellite Networks by 410.2% during 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 during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Gilat Satellite Networks during the 2nd quarter worth approximately $46,000. Finally, Clearline Capital LP acquired a new position in Gilat Satellite Networks during the 2nd quarter valued at approximately $73,000. 35.72% of the stock is owned by institutional investors and hedge funds.

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.