StockNews.com Upgrades Gilat Satellite Networks (NASDAQ:GILT) to “Strong-Buy”

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also weighed in on GILT. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Friday. William Blair initiated coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Stock Performance

Shares of GILT traded up $0.16 during mid-day trading on Friday, reaching $5.03. The company had a trading volume of 182,351 shares, compared to its average volume of 190,736. 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 stock has a 50 day moving average of $5.00 and a two-hundred day moving average of $4.90. Gilat Satellite Networks has a 52-week low of $4.04 and a 52-week high of $6.80. The stock has a market capitalization of $286.81 million, a P/E ratio of 17.35 and a beta of 0.59.

Institutional Trading of Gilat Satellite Networks

A number of institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC raised its holdings in shares of Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after buying an additional 177,675 shares during the period. Quadrature Capital Ltd grew its holdings in Gilat Satellite Networks by 19.6% in the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 5,559 shares in the last quarter. Marshall Wace LLP raised its stake 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 in the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $46,000. Finally, Clearline Capital LP bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth $73,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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.