Gilat Satellite Networks (NASDAQ:GILT) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair began coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a report on Friday, November 15th.

Gilat Satellite Networks Trading Down 0.6 %

The firm has a market cap of $358.07 million, a price-to-earnings ratio of 21.66 and a beta of 0.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The company has a 50 day moving average price of $5.79 and a 200 day moving average price of $5.08.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks during the 3rd quarter worth about $27,000. Wedbush Securities Inc. purchased a new stake in Gilat Satellite Networks during the 2nd quarter worth about $46,000. Virtu Financial LLC acquired a new stake in Gilat Satellite Networks in the 3rd quarter valued at about $61,000. Clearline Capital LP acquired a new position in shares of Gilat Satellite Networks during the second quarter worth about $73,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Gilat Satellite Networks during the third quarter worth approximately $140,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

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.