Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Significant Drop in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 190,000 shares, a drop of 23.2% from the December 15th total of 247,500 shares. Approximately 0.3% of the company's stock are sold short. Based on an average trading volume of 286,700 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

GILT has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a report on Thursday. StockNews.com raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research note on Friday, November 15th. Finally, William Blair began coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They set an "outperform" rating on the stock.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its stake in shares of Gilat Satellite Networks by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider's stock worth $335,000 after buying an additional 2,812 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth $61,000. Clearline Capital LP boosted its holdings in shares of Gilat Satellite Networks by 510.5% during the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider's stock worth $524,000 after purchasing an additional 83,127 shares during the last quarter. PDT Partners LLC boosted its holdings in Gilat Satellite Networks by 51.1% in the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider's stock valued at $145,000 after acquiring an additional 9,287 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks in the third quarter valued at $27,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Gilat Satellite Networks Stock Down 0.3 %

Shares of NASDAQ:GILT traded down $0.02 on Thursday, hitting $6.58. 374,228 shares of the company's stock were exchanged, compared to its average volume of 427,613. The firm's 50-day moving average is $5.86 and its 200 day moving average is $5.13. The company has a market capitalization of $375.19 million, a PE ratio of 22.69 and a beta of 0.57. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $6.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17.

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.