Gilat Satellite Networks (NASDAQ:GILT) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a strong sell rating in a research report released on Wednesday, BidAskClub reports.

Separately, ValuEngine upgraded shares of Gilat Satellite Networks from a hold rating to a buy rating in a research note on Saturday, October 19th.

NASDAQ GILT opened at $7.87 on Wednesday. Gilat Satellite Networks has a 12 month low of $7.60 and a 12 month high of $10.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.68 and a quick ratio of 1.47. The company has a market capitalization of $449.08 million, a price-to-earnings ratio of 25.31 and a beta of 0.66. The company’s fifty day moving average price is $8.18 and its two-hundred day moving average price is $8.39.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, August 6th. The communications equipment provider reported $0.08 EPS for the quarter. Gilat Satellite Networks had a net margin of 7.93% and a return on equity of 7.79%. The firm had revenue of $59.69 million for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Gilat Satellite Networks by 0.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 865,582 shares of the communications equipment provider’s stock worth $7,254,000 after buying an additional 5,959 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Gilat Satellite Networks in the 3rd quarter worth about $143,000. Jane Street Group LLC bought a new position in shares of Gilat Satellite Networks in the 2nd quarter worth about $158,000. Vanguard Group Inc. lifted its position in shares of Gilat Satellite Networks by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 733,930 shares of the communications equipment provider’s stock worth $6,209,000 after buying an additional 6,719 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Gilat Satellite Networks by 0.3% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 923,942 shares of the communications equipment provider’s stock worth $7,817,000 after buying an additional 2,414 shares during the last quarter. Hedge funds and other institutional investors own 16.44% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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