Needham & Company LLC Reiterates Buy Rating for Gilat Satellite Networks (NASDAQ:GILT)

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $8.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 68.99% from the company’s current price.

Separately, William Blair started coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Price Performance

GILT opened at $5.03 on Friday. The company has a fifty day moving average price of $5.01 and a two-hundred day moving average price of $4.90. The firm has a market capitalization of $286.81 million, a PE ratio of 17.35 and a beta of 0.59. 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 2.17.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Gilat Satellite Networks by 2.3% in the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after purchasing an additional 24,204 shares during the period. Foundry Partners LLC raised its stake 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 worth $4,396,000 after buying an additional 8,045 shares during the period. AWM Investment Company Inc. acquired a new stake in Gilat Satellite Networks during the 1st quarter worth $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilat Satellite Networks during the second quarter worth about $3,000,000. Finally, ARK Investment Management LLC increased its holdings in shares of Gilat Satellite Networks by 7.9% in the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after acquiring an additional 31,714 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

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.