Gilat Satellite Networks (NASDAQ:GILT) Upgraded to “Buy” by StockNews.com

Gilat Satellite Networks (NASDAQ:GILTGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Gilat Satellite Networks Price Performance

Shares of GILT traded up $0.09 during midday trading on Thursday, hitting $6.00. 91,403 shares of the company traded hands, compared to its average volume of 153,258. The stock has a 50-day moving average of $5.61 and a 200-day moving average of $6.19. Gilat Satellite Networks has a one year low of $4.97 and a one year high of $9.11. The firm has a market cap of $339.66 million, a P/E ratio of 120.02 and a beta of 0.54.

Institutional Investors Weigh In On Gilat Satellite Networks

Several hedge funds and other institutional investors have recently modified their holdings of GILT. Royal Bank of Canada increased its position in shares of Gilat Satellite Networks by 74.8% during the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 1,498 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Gilat Satellite Networks in the third quarter worth approximately $60,000. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks in the third quarter worth approximately $66,000. Cobblestone Capital Advisors LLC NY bought a new position in shares of Gilat Satellite Networks in the third quarter worth approximately $70,000. Finally, Jane Street Group LLC increased its position in shares of Gilat Satellite Networks by 2,001.9% in the second quarter. Jane Street Group LLC now owns 12,153 shares of the communications equipment provider’s stock worth $73,000 after purchasing an additional 12,792 shares during the last quarter. 29.61% of the stock is currently owned by institutional investors.

About Gilat Satellite Networks

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Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel and internationally. It operates through Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects segments. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.

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