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

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 248,400 shares, a growth of 80.9% from the January 15th total of 137,300 shares. Approximately 0.5% of the company's shares are short sold. Based on an average trading volume of 389,600 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

GILT has been the subject of a number of recent research reports. StockNews.com raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research note on Friday, November 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Thursday, February 13th.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Gilat Satellite Networks by 3.4% during the 4th quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider's stock valued at $405,000 after acquiring an additional 2,158 shares during the period. PDT Partners LLC boosted its holdings in Gilat Satellite Networks by 8.4% during the 4th quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider's stock valued at $183,000 after acquiring an additional 2,305 shares during the period. Covestor Ltd purchased a new position in Gilat Satellite Networks during the 4th quarter valued at about $29,000. BNP Paribas Financial Markets purchased a new position in Gilat Satellite Networks during the 3rd quarter valued at about $27,000. Finally, Foundry Partners LLC boosted its holdings in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider's stock valued at $4,396,000 after acquiring an additional 8,045 shares during the period. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Gilat Satellite Networks Trading Up 5.9 %

Shares of NASDAQ GILT traded up $0.43 during mid-day trading on Wednesday, reaching $7.78. 1,036,836 shares of the company's stock were exchanged, compared to its average volume of 491,872. The firm has a market capitalization of $443.62 million, a price-to-earnings ratio of 17.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. Gilat Satellite Networks has a 52-week low of $4.04 and a 52-week high of $7.78. The company's 50-day moving average is $6.62 and its 200-day moving average is $5.58.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. Analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

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.