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 in April. As of April 15th, there was short interest totalling 481,900 shares, a decline of 14.3% from the March 31st total of 562,100 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 383,100 shares, the days-to-cover ratio is currently 1.3 days.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT opened at $6.53 on Friday. Gilat Satellite Networks has a 12 month low of $4.04 and a 12 month high of $8.05. The firm has a market capitalization of $372.32 million, a price-to-earnings ratio of 14.84 and a beta of 0.49. The business’s 50 day simple moving average is $6.47 and its 200-day simple moving average is $6.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. As a group, equities analysts forecast that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC purchased a new stake in Gilat Satellite Networks in the 4th quarter valued at approximately $864,000. Virtu Financial LLC purchased a new stake in Gilat Satellite Networks during the 3rd quarter worth about $61,000. Raymond James Financial Inc. acquired a new position in Gilat Satellite Networks in the 4th quarter valued at about $226,000. Van ECK Associates Corp boosted its stake in shares of Gilat Satellite Networks by 279.0% during the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after purchasing an additional 100,396 shares during the last quarter. Finally, Diametric Capital LP grew its holdings in shares of Gilat Satellite Networks by 38.5% during the fourth quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider’s stock worth $238,000 after buying an additional 10,759 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GILT shares. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

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. 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.