Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 69,900 shares, an increase of 251.3% from the September 15th total of 19,900 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 176,400 shares, the short-interest ratio is presently 0.4 days.

Gilat Satellite Networks Price Performance

GILT stock traded down $0.05 during trading on Thursday, hitting $4.96. 58,372 shares of the company's stock traded hands, compared to its average volume of 193,884. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14. The business has a fifty day simple moving average of $4.69 and a 200 day simple moving average of $4.97. The stock has a market capitalization of $282.80 million, a price-to-earnings ratio of 12.10 and a beta of 0.59.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. The business had revenue of $76.63 million for the quarter.

Institutional Investors Weigh In On Gilat Satellite Networks

Several hedge funds and other institutional investors have recently made changes to their positions in GILT. Clearline Capital LP purchased a new position in Gilat Satellite Networks in the 2nd quarter worth about $73,000. Marshall Wace LLP increased its stake in Gilat Satellite Networks by 410.2% in the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider's stock worth $578,000 after buying an additional 103,924 shares during the period. Renaissance Technologies LLC increased its stake in Gilat Satellite Networks by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider's stock worth $4,817,000 after buying an additional 24,204 shares during the period. Y.D. More Investments Ltd purchased a new position in Gilat Satellite Networks in the 2nd quarter worth about $243,000. Finally, Wedbush Securities Inc. purchased a new position in Gilat Satellite Networks in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 35.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GILT. Needham & Company LLC restated a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Thursday, August 8th. StockNews.com lowered shares of Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, June 19th. Finally, William Blair started coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an "outperform" rating for the company.

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.