Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 40,200 shares, a decline of 57.2% from the February 29th total of 93,900 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 138,400 shares, the days-to-cover ratio is presently 0.3 days.

Gilat Satellite Networks Stock Performance

Shares of Gilat Satellite Networks stock traded up $0.14 on Thursday, reaching $5.43. 95,801 shares of the company traded hands, compared to its average volume of 141,285. The company has a 50 day moving average of $6.00 and a 200 day moving average of $6.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60. Gilat Satellite Networks has a 52 week low of $4.51 and a 52 week high of $7.16. The firm has a market capitalization of $309.62 million, a PE ratio of 12.93 and a beta of 0.60.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%. The business had revenue of $75.61 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GILT. Millennium Management LLC raised its stake in Gilat Satellite Networks by 736.4% in the 4th quarter. Millennium Management LLC now owns 695,690 shares of the communications equipment provider’s stock valued at $4,035,000 after acquiring an additional 612,515 shares during the period. Wellington Management Group LLP lifted its stake in shares of Gilat Satellite Networks by 42.0% during the 1st quarter. Wellington Management Group LLP now owns 1,833,700 shares of the communications equipment provider’s stock valued at $9,389,000 after buying an additional 542,800 shares in the last quarter. First Wilshire Securities Management Inc. boosted its holdings in Gilat Satellite Networks by 145.7% in the 4th quarter. First Wilshire Securities Management Inc. now owns 743,506 shares of the communications equipment provider’s stock worth $4,543,000 after buying an additional 440,843 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Gilat Satellite Networks by 381.5% in the third quarter. Acadian Asset Management LLC now owns 451,343 shares of the communications equipment provider’s stock worth $2,894,000 after acquiring an additional 357,609 shares during the period. Finally, State Street Corp raised its stake in shares of Gilat Satellite Networks by 93.9% during the 2nd quarter. State Street Corp now owns 701,302 shares of the communications equipment provider’s stock valued at $4,236,000 after purchasing an additional 339,586 shares during the period. Institutional investors 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.