Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Significant Growth in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 58,100 shares, a growth of 108.2% from the March 31st total of 27,900 shares. Based on an average daily volume of 171,900 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th.

Gilat Satellite Networks Stock Up 1.2 %

NASDAQ:GILT traded up $0.06 during mid-day trading on Friday, hitting $5.14. The stock had a trading volume of 118,728 shares, compared to its average volume of 216,412. Gilat Satellite Networks has a twelve month low of $4.53 and a twelve month high of $7.16. The stock has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $6.01. The company has a current ratio of 1.90, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $293.07 million, a PE ratio of 12.24 and a beta of 0.59.

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

Hedge Funds Weigh In On Gilat Satellite Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund purchased a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $48,000. Quadrant Capital Group LLC lifted its position in Gilat Satellite Networks by 150.5% in the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 4,733 shares during the last quarter. Jump Financial LLC boosted its stake in Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after acquiring an additional 4,567 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Gilat Satellite Networks by 17.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in shares of Gilat Satellite Networks by 129.3% during the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 16,004 shares in the last quarter. 35.72% of the stock is owned by institutional investors and hedge funds.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.